Prosecutors say Zhao, who faces sentencing in a Seattle court next week, should serve 36 months in jail for serious money laundering offences. Meanwhile, a Binance exec is languishing in a jail in Nigeria amid a legal row over 'unpaid taxes' and other 'crimes'.
Binance's deal with US regulators includes an agreement to have court-appointed monitors from the Justice and Treasury departments for up to five years, report says
The US Justice Department is now reportedly seeking an 18-month prison sentence for Zhao, the maximum suggested under federal guidelines
The world's largest crypto exchange withdrew from mainland China in 2017 during a regulatory crackdown, but the country is allegedly still the biggest source of its trading, a new report says
While big crypto companies can afford to fight the SEC, arguing that tokens are commodities, small firms have filed for bankruptcy after SEC actions, such as Beaxy exchange
The Securities and Exchange Commission says Coinbase has operated as an unregistered broker, evading disclosure requirements meant to protect investors
US regulator's move, filing 13 charges against Binance and its CEO Changpeng Zhao, has hit public faith in crypto trading, and led to a wave of withdrawals from the group's exchanges
New findings show how CEO Changpeng Zhao secretly retained control over Binance's US arm and ensured he could direct the company’s expansion in the American crypto market despite scrutiny from regulators
Binance has earlier faced challenges in Singapore, where several crypto exchanges have received central bank approval to offer payment services
Investors have been cashing in their Binance USD tokens since the US Securities and Exchange Commission said it was considering taking action against the platform
Most of the $2.5 billion that flowed out of Binance's stablecoin this week, after US regulators put a spotlight on the token, has gone to Tether; meanwhile, the US has charged Do Kwon with fraud
A large chunk of Binance's emergency insurance fund – 44% – is made up of the crypto exchange's own BNB tokens, crypto followers have noted