THE BOND VILLAIN COMPLIANCE STRATEGY

Summary from the TLDR newsletter

Binance and its CEO recently pleaded guilty to operating the world's largest criminal conspiracy to launder money and paid more than $4 billion in fines. This article looks at the history of Binance to see what led to this outcome. The ruling settles a long-running investigation involving the DOJ, CFTC, FinCEN, and assorted other parts of the US regulatory state. However, it importantly doesn't resolve the SEC's parallel action, which includes charges of operating an unregistered exchange, misrepresenting trading controls, and the unregistered offer and sale of securities.