The Involvement of Iranians in the Bitter Fate of Binance’s CEO
Binance, the world’s largest cryptocurrency exchange, has been sentenced to pay a $43 billion fine in a Seattle court. According to revelations by the Wall Street Journal, with an agreement between the U.S. Department of Justice and Changpeng Zhao, the CEO of this exchange, he can remain a shareholder in Binance and avoid prison if he resigns from his position, accepts his penalties, and admits to his charges.
Iranians are involved. According to documents released from the Binance case, the world’s largest cryptocurrency exchange is facing these three key charges: 1. Violation of U.S. anti-money laundering laws, 2. Operating without a license in the field of financial transfers, and 3. Violating U.S. sanction regulations.
In the matter of sanction regulation violations, Binance’s provision of services to Iranian users is also mentioned. For example, the U.S. Department of Justice stated that a total of $900 million in transactions were conducted between the U.S. and Iranian users on Binance, which is considered a clear violation of economic sanctions.