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What is Binance and why is it in trouble?
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.
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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