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  • Judge approves Binance £3.4bn guilty plea as US seeks to modify founder Zhao’s bond

    Cryptocurrency

    A US judge on Friday accepted Binance’s guilty plea and more than $4.3bn (£3.4bn) penalty for violating federal anti-money laundering and sanctions laws through lapses in internal controls at the world’s largest cryptocurrency exchange. US district judge Richard Jones in Seattle approved the plea, which includes a $1.8bn (£1.4bn) criminal fine and $2.5 (£2bn) billion [...]

    Binance said it accepted responsibility, has upgraded its anti-money laundering and "know-your-customer" protocols, and has made "significant progress" toward changes required under its plea agreement.

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