Binance, the world’s largest crypto exchange, has announced its intention to pay fines for settling investigations into its business in the United States.

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After the first publications appeared in the media at the end of last year that the US authorities had launched an investigation into the crypto exchange, Binance strategy director Patrick Hillmann said that this information was untrue and ridiculed those who spread it. But after a short period, his statements on this matter received radically different content.

Patrick Hilmann says that the company’s management was not aware of the regulatory legal acts based on which the fight against money laundering and actions of a corrupt nature is carried out in the USA. He stated that the firm is currently interacting with regulatory authorities to find ways out of the current situation.

Patrick Hilmann admitted what he initially denied. It is not yet known exactly what kind of responsibility the company will bear and how sensitive the measures of influence will be.

U.S. Department of Justice prosecutors has been investigating Binance for violating anti-money laundering laws since 2018. So far, prosecutors have not come to a consensus on how much longer this investigation should continue. It is possible that soon, a final decision will be made on this case and a penalty will be imposed.

The founder and CEO of Binance, Changpeng Zhao, wishing to refute media reports about the investigation, launched a Twitter campaign claiming that the editions work for the head of FTX, Sam Bankman-Fried. He urged his subscribers not to pay attention to this information, which he called false and did not provide evidence in favor of his version that there are no claims from regulatory authorities to the crypto exchange.

The change in Binance’s position comes as more and more evidence appears in the public space that the company has encountered difficulties, and the consequences of this situation may be severe.

This crypto exchange was founded in 2017. At the beginning of 2018, Binance became the world’s largest service in terms of the trading volume. The company was founded in China, but over time it moved its servers and headquarters to Japan. This decision was made because in China in September 2017, the government banned the trading of cryptocurrencies. In early 2018, the company also opened offices in Taiwan.

As we have reported earlier, New York Regulators Crackdown on Binance.