The US District Court has approved the settlement between the Commodity Futures Trading Commission (CFTC) and Binance, along with its CEO Changpeng ‘CZ’ Zhao. The court entered a consent order, imposing a $150 million civil penalty against CZ personally. Binance is required to disgorge $1.35 billion of alleged ill-gotten transaction fees and pay an additional $1.35 billion penalty to the CFTC. The court order mandates permanent injunctions preventing further violations and proof of improved compliance controls’ effectiveness. (Source: beincrypto.com)
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