Binance Enters Guilty Plea and Agrees to Forfeit $2.5 Billion.

Binance.com, one of the largest cryptocurrency exchanges in the world, pled guilty on November 21, 2023, to conducting an illegal money transmitting business, to failing to maintain an effective AML/KYC program, and to knowingly transferring nearly $900 million to sanctioned contries including Iran.  As part of the plea agreement, Binance agreed to forfeit $2.5 billion.

The following items are links to a summary of the charges and the plea agreement from the December 2023 Money Laundering and Forfeiture Digest, the Criminal Information, and Binance’s Plea Agreement

Summary from the Money Laundering and Forfeiture Digest

Criminal Information

Plea Agreement