#Judge Signs Off on Binance's $4.3B Plea Deal With U.S. Prosecutors
Binance pleaded guilty to violating sanctions and anti-money laundering laws last year.
A federal judge has signed off on crypto exchange Binance's $4.3 billion plea deal with the U.S. Department of Justice.
During a sentencing hearing Friday, Judge Richard Jones of the U.S. District Court for the Western District of Washington approved the top-line fine itself, though he did not yet sign off on any monitor for the exchange. Bloomberg first reported the news earlier Friday.
The DOJ announced the settlement last November, alleging Binance had violated sanctions and anti-money-laundering laws over a years-long period. Under the terms of the settlement, the exchange would pay $4.3 billion, appoint an independent compliance monitor and have its CEO at the time, founder Changpeng Zhao, step down. Zhao pleaded guilty to separate charges and is currently scheduled to be sentenced in late April.