Crypto Exchange Binance to Pay Fines to Settle Charges in the US: Wall Street Journal

Patrick Hillmann, chief strategy officer of Binance, has said that the company expects to pay fines to settle claims from the US authorities.

He has said that the exchange is discussing with regulators what aspects of activity need to be improved in order to eliminate the violations committed in the first years of operation. According to him, at that time the platform was run by programmers who were unfamiliar with anti-fraud, money laundering and other compliance regulations.

The amounts the exchange might have to pay have not been unveiled. According to him, Binance considers the progress of the negotiations successful and hopes to reach an agreement with the departments.

The US Department of Justice is allegedly investigating Binance’s possible violation of anti-money laundering regulations.