The new Binance CEO has noted that Binance will begin operating a conventional corporate structure under his leadership.
Alongside the traditional trading competition, Binance futures participants can engage in a Copy Trading Competition and a Trading Bots Competition.
The commission now has access to all of the exchange’s records, which could serve as a catalyst for uncovering additional instances of mishandled funds or suspected fraudulent activities.
Zhao’s guilty plea stems from accusations that Binance violated the Bank Secrecy Act by knowingly allowing US customers on the platform without conducting proper KYC and AML checks.
Bitcoin has managed to successfully sail through amid several concerning events in the crypto space, with derivatives data showing strength.
Along with its collaborative commitment to encouraging creativity and engaging fans, Binance, in partnership with Gasly, offered users and fans the exclusive Pierre Gasly Experience.
Legal experts, including Ripple lawyer John E. Deaton, share Armstrong’s optimism, speculating that Coinbase will be a significant beneficiary of Binance’s regulatory challenges.
A high-profile situation that eventually led to CZ leaving his role as CEO of Binance has not distracted traders from their interest in Bitcoin.
Besides the fines Changpeng Zhao will pay, Binance has also agreed to pay $4.3 billion to the United States Department of Justice (DoJ).
Both currencies remain in the down zone on the daily chart, registering 2.6% and 9.34% declines respectively.
As part of the settlement with Binance, FinCEN will impose a five-year monitorship program on the company’s order books despite the fact that the exchange agreed to completely exit the US market.
As part of the agreement, CZ was slated to remain in detention for 18 months. However, the former head of Binance was released in less than 24 hours.
Armstrong touted Coinbase’s efforts at remaining in line with US compliance, while calling for regulatory clarity in the sector.
New Binance CEO Richard Teng has a rich track record in the financial regulatory environment, having worked in Dubai and Singapore for the past years.
As part of the plea deal with prosecutors, Binance has agreed to pay the United States Department of Justice (DoJ) $4.3 billion.