Binance, the world’s largest crypto exchange, expects to pay monetary penalties to settle probes into its business in the U.S., a top executive said, in a major about-face after publicly disputing the idea that it was under any investigation and mocking media outlets that reported otherwise.
In an apparent admission of breaking laws, Binance chief strategy officer Patrick Hillmann told the WSJ that the company’s executives were unfamiliar with laws and rules written surrounding bribery, corruption and money laundering.
Binance is “working with regulators to figure out what are the remediations we have to go through now to make amends for that,” he said. The outcome could range from “like a fine” to “could be more.”
Reuters reported in December that prosecutors at the U.S. Department of Justice have …
