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The original was posted on /r/worldnews by /u/tilo555 on 2023-11-21 22:54:25.
Binance chief Changpeng Zhao pleads guilty to money laundering
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.bbc.com/news/technology-67492753
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
Binance, which is registered in the Cayman Islands, is known as the world’s largest platform for buying and selling cryptocurrencies and other digital assets
Hydra was a popular Russian darknet marketplace, frequently utilised by criminals, that facilitated the sale of illegal goods and services," the department said.
“This will advance our criminal investigations into malicious cyber activity and terrorism fundraising, including the use of cryptocurrency exchanges to support groups such as Hamas,” the Justice Department said.
The lawsuit from the Commodity Futures Trading Commission (CFTC) said the firm cultivated US business while failing to register properly with authorities.
It accused Binance of breaking numerous US financial laws, including rules intended to thwart money laundering.
US authorities had pledged to use existing laws to root out fraud and other issues in the crypto industry, especially after the dramatic collapse of Binance rival FTX last year.
The original article contains 483 words, the summary contains 144 words. Saved 70%. I’m a bot and I’m open source!