The US Department of Justice Prepares to Announce Agreement with Bitcoin Exchange Binance!

• Cryptocurrency exchange Binance is set to conclude a long-running investigation with the US Department of Justice, according to an agreement to be announced in the coming hours.
• It remains uncertain whether Binance’s founder, Changpeng “CZ” Zhao, will face additional or separate charges as part of the agreement. A DOJ spokesperson declined to comment.
• The press conference is expected to feature Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco, and CFTC Chairman Rostin Behnam.

The US Department of Justice is preparing to announce its agreement with the cryptocurrency exchange Binance; will Binance be able to escape the investigations?

Binance Settles with the US Department of Justice

Cryptocurrency exchange Binance is set to conclude a long-running investigation with the US Department of Justice through an agreement to be announced in the coming hours, according to numerous reports. The US Department of Justice announced that it would hold a press conference on Tuesday to reveal “significant cryptocurrency sanction actions.”

It was reported that Bloomberg first detailed the press conference on Tuesday and mentioned that Binance could end the DOJ’s allegations with a $4 billion fine and a deferred prosecution agreement. It remains uncertain whether Binance’s founder, Changpeng “CZ” Zhao, will face additional or separate charges as part of the agreement. A DOJ spokesperson declined to comment.

Binance has been the subject of a long-running DOJ investigation covering various issues, including allegations that it allowed individuals from countries under DOJ sanctions to trade on its platform. It was also sued by the CFTC earlier this year.

Additionally, according to reports, US officials are preparing to reach an agreement with Binance to resolve charges related to combating money laundering and other violations. According to this information, the US Department of Justice will hold a press conference in about 4 hours.

Other participants in the meeting

The press conference is expected to feature Attorney General Merrick Garland, Treasury Secretary Janet Yellen, Deputy Attorney General Lisa Monaco, and CFTC Chairman Rostin Behnam. A representative from the US Securities and Exchange Commission (SEC) will not participate in the meeting. In addition to this information, the SEC filed a lawsuit against the cryptocurrency exchange Kraken yesterday.

The SEC had filed a lawsuit against Binance and Coinbase in early June, causing a significant blow to the market. Today’s statements from the US Department of Justice will reveal how Binance will navigate regulatory pressures.