On November 21st Changpeng Zhao, boss of Binance, resigned after pleading guilty to criminal money-laundering charges. He becomes the third founder of a major crypto exchange to be convicted of crimes. In May 2022 Arthur Hayes, who set up Bitmex, was sentenced to six months under house arrest for violating anti-money-laundering laws. And on November 2nd this year Sam Bankman-Fried, the founder of ftx, was convicted on seven counts of fraud. He may face decades in prison. Binance has pleaded guilty to violating money-laundering laws and the International Emergency Economic Powers Act, the legislation under which America imposes sanctions. As part of the plea agreement, Binance will be allowed to continue operating under the supervision of a government compliance team. It will also pay a $4.3bn fine and also Mr Zhao will pay a $50m fine. He may also go to jail probably for up to 18 months after he is sentenced in Seattle in February. DO you think that the governments is fighting to have control over blockchain technologies ?
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