The chief executive of Binance, the world’s largest cryptocurrency exchange, plans to step down and plead guilty to violating US criminal anti-money laundering requirements, in a deal that could preserve the company’s ability to continue operations, according to people familiar with the matter. .
Zhao Changpeng is scheduled to appear in Seattle federal court Tuesday afternoon and plead his case, according to court records released Tuesday. Prosecutors also unsealed a document accusing Binance, which Zhao owns, of anti-money laundering and sanctions crimes. Binance will also plead guilty and agree to pay fines totaling $4.3 billion, which includes money intended to settle civil allegations made by regulators, the sources said.
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