media: The conclusion of a settlement agreement with the US Ministry of Justice may cost Binance $4 billion – Bits Media

The US Department of Justice is ready to stop investigating the violations of the Binance Exchange and its CEO Chanpeng Zhao if a fine is paid more $4 billion.

Bloomberg publication with reference to anonymous sources, Friends with the course of negotiations, reports, that the US Department of Justice and the Binance cryptocurrency exchange administration do not exclude the possibility of concluding a global agreement in the case of the alleged money laundering, banking fraud and violation of sanctions against Iran and Russia.

If the US fine is pleading to be guilty and paid, the criminal case against Binance General Chanpen Zhao will defend the criminal case against the General of Binance (Changpeng Zhao) until, While the company will fully comply with the court instructions.

If Binance agrees to pay the amount of compensation proposed by the Ministry of Justice, then this will become one of the largest fines in the history of criminal cases of cryptocurrency crimes. Expected, that the parties on this issue should be reached at the end of the month.

The protracted court lawsuit has already caused actual damage to the American division of the Binance Exchange. In particular, trading volumes on binance.us decreased to a minimum after, How the exchange lost banking and suspended deposits in US dollars. As a result, the American company was forced to conduct a large -scale reduction in personnel.