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In March this yr, U.S regulators sought to ban Binance, alleging it had been working within the nation illegally. By November, the alternate pleaded responsible to U.S prison costs of breaking sanctions and money-transmitting legal guidelines, agreeing to pay a $4.three billion high quality. Zhao himself pleaded responsible, agreeing to pay $50m and step down as CEO. Teng’s elevation left the crypto world in shock.
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