Binance (BNB-USD) Co-Founder and CEO Changpeng “CZ” Zhao has pleaded guilty to federal charges connected to operating as an unregistered crypto exchange within the US while enabling terrorist groups and sanctioned geopolitical figures through its platform.
Moses Singer Partner and Former SEC Trial Attorney Howard Fischer describes a criminal investigation into Binance as a “foregone conclusion” since the initial SEC probe into the exchange. Fischer discusses the ripple effect this could have on the cryptocurrency ecosystem and how US regulators will be monitoring Binance more closely now.
“There was some concern about the disruptive effects that would have not just in the cryptocurrency world, but in the global economy with large,” Fischer explains. “I think that in some ways this has to be seen as somewhat optimistic for the cryptocurrency sector precisely because as, you pointed out, they are not shutting down the company…”
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