The CEO of the Binance cryptocurrency exchange left his post • Russia today Posting in CHAT: Russia Binance cryptocurrency exchange management He was replaced by former regional markets chief Richard Teng. The exchange deliberately hid information from law enforcement agencies, violated the sanctions regime and did not report suspicious transactions, Reuters reports, citing data from US authorities. “I made mistakes and I must take responsibility for them. This will be better for our entire community, for Binance and for me personally,” Changpeng Zhao wrote about his resignation on social network X (formerly Twitter). Changpeng Zhao agreed to plead guilty to charges of violating US anti-money laundering laws and will pay a fine of $50 million. At the same time, Binance itself agreed to pay a fine of $4.3 billion to US authorities. Let us remember that in September 2023, Binance announced its departure from Russia. Previously, the exchange closed trading in all currencies except rubles for Russians in Russia. However, in August, the WSJ wrote that Binance continues to process significant volumes of ruble trading, despite Western sanctions. The publication, citing a source, reported that the US Department of Justice has launched an investigation into Binance in connection with possible evasion of US sanctions against Russia. With the help of popular crypto services, Russians could convert rubles into other currencies and back. Source link Source link
