AG Garland: DOJ ‘Has Secured Felony Guilty Pleas from the World’s Largest Cryptocurrency

GARLAND: “We are here today to announce that the Justice Department has secured felony guilty pleas from the world’s largest cryptocurrency exchange, Binance, and from its founder and CEO, Changpeng Zhao, also known as CZ. Separate from the criminal enforcement actions the Justice Department is announcing today, Secretary Yellen and Chairman Behnam will also announce civil regulatory enforcement actions that the Treasury Department and the CFTC are taking against Binance. While criminal and civil enforcement actions are subject to different legal standards, this collective effort represents the whole of government approach that we are taking to combat corporate crime. Binance has agreed to plead guilty to willfully violating the Bank Secrecy Act, knowingly failing to register as a money transmitting business, and willfully violating the International Emergency Economic Powers Act.”