[1/2]Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File photo Acquire Licensing Rights
NEW YORK, Nov 21 (Reuters) - Binance chief Changpeng Zhao will step down and plead guilty to breaking criminal U.S. anti-money laundering laws as part of a $4 billion settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.
The deal with the Justice Department, detailed in court filings, is part of a large settlement between the firm and other U.S. agencies, including the Commodity Futures Trading Commission (CFTC) and the Treasury Department, according to two sources familiar with the matter.
The agreement will resolve criminal charges for conducting an unlicensed money transmitter business, conspiracy and breaching sanctions regulations, the filing said.
The company will pay $1.81 billion within 15 months, and a further $2.51 billion forfeiture as part of the deal with the Justice Department, prosecutors said. Zhao will personally pay $50 million.