In what stands as the largest industry charge to date, Changpeng Zhao (‘CZ’), founder and CEO of Binance, the world’s largest cryptocurrency exchange, is set to plead guilty to U.S. anti-money laundering law violations. This move, confirmed following previous leaks, highlights the extraordinary power of the US banking system. Zhao established Binance in 2017, and the platform quickly became a dominant force in the global cryptocurrency market. However, its prominence has attracted considerable attention from regulatory bodies. The U.S. Commodity Futures Trading Commission (CFTC) has criticized Binance for not implementing sufficient measures to prevent money laundering and terrorist financing. Additionally,

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