Bloomberg: U.S. prosecutors urge judge to accept Binance's plea agreement

According to ChainCatcher news, Bloomberg reported that U.S. prosecutors urged a federal judge to accept Binance's plea agreement based on a sentencing memorandum submitted to the Seattle federal court on Friday. Binance admitted to violating anti-money laundering and sanctions regulations at the end of last year and agreed to pay a $4.3 billion fine. Prosecutors stated that given the nature and severity of Binance's misconduct—deliberate, led by executives, and resulting in hundreds of millions of dollars in collateral consequences—the proposed penalties in the plea agreement are appropriate. The plea agreement also requires Binance to undergo monitoring for up to five years.

Additionally, former Binance CEO Changpeng Zhao has admitted to violating anti-money laundering regulations and will be sentenced in April. He faces up to 10 years in prison, but under the plea agreement, his sentence is expected to be no more than 18 months.