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What is Binance and why is it in trouble?
![IndiaTimes]()
Wednesday, 22 November 2023
Binance, the world's largest cryptocurrency exchange, is facing legal and regulatory challenges from authorities worldwide. Accusations include violating anti-money laundering laws, facilitating illicit transactions, and evading taxes. Binance's founder and former CEO, Changpeng Zhao, has stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement. The crackdown on Binance could impact the crypto industry, affecting liquidity, volatility, and investor confidence.
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