Crypto exchange Binance will leave the U.S., pay billions in fines and appoint a monitor for five years to settle charges with the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Asset Control (OFAC), the U.S. Treasury Department's money laundering and sanctions watchdogs, according to press releases shared Tuesday.
Richard Teng takes over as CEO of the world's largest crypto exchange.
A resolution could come as soon as the end of this month, Bloomberg reports.