US authorities says Binance, chief Changpeng Zhao have pleaded guilty

U.S. authorities on Tuesday said that Binance and its chief, Changpeng Zhao, have pleaded guilty to charges related to violations of laws aimed at preventing illicit finance.

The world's largest cryptocurrency exchange deliberately withheld information from law enforcement, undermined sanctions controls and failed to report suspicious transactions that supported child sexual abuse, illegal drugs and terrorism associated with groups like Hamas, among its violations, the authorities said.

The resolution will include a five-year monitorship.