The US Department of Justice alleged that Binance prioritised growth and profits over compliance with US law, failed to maintain an effective anti-money laundering programme, operated as an unlicensed money transmitting business and allowed transactions in violation of US sanctions, and that Zhao, as chief executive, failed to maintain an effective anti-money laundering programme.
21 November 2023 to today · 6 dated events · 10 sources
Where it stands now · as of 30 October 2026
As of 30 October 2026 Binance's corporate guilty plea stands with no public record of its monitorship ending, and Zhao's conviction stands but has been pardoned.
Overview · 21 Nov 2023 to 17 Apr 2026 · click a dot to jump
2023
21 Nov 2023
Legal step
Binance and Zhao plead guilty
Guilty pleas, United States v. Binance Holdings Limited and United States v. Zhao (No. 23-CR-00179-RAJ). Binance Holdings Limited pleaded guilty to violations related to the Bank Secrecy Act, failure to register as a money transmitting business and the International Emergency Economic Powers Act, agreeing to a criminal fine of 1,805,475,575 dollars and forfeiture of 2,510,650,588 dollars, a total of 4,316,126,163 dollars, and an independent compliance monitor for three years. Zhao pleaded guilty to failing to maintain an effective anti-money laundering programme in violation of the Bank Secrecy Act. The Department said it would credit about 1.8 billion dollars toward parallel CFTC, FinCEN and OFAC resolutions.
Sentencing of Changpeng Zhao (as reported). Zhao was sentenced to four months in prison. Prosecutors had sought three years, according to the Associated Press and Axios.
Bloomberg reports talks to end the Justice Department monitorship early
Reported negotiations over the compliance monitor requirement (as reported by Bloomberg). Bloomberg reported, citing people familiar with confidential talks, that Binance was moving toward a potential deal with the Justice Department that would end its obligation to retain an outside compliance monitor. No public record of an agreement or early termination was found.
Executive Grant of Clemency, United States v. Zhao, 23CR00179RAJ-001. A full and unconditional pardon granted to Changpeng Zhao under Article II, Section 2, Clause 1 of the Constitution. White House press secretary Karoline Leavitt announced it in a written statement on 23 October 2025.
Senator Blumenthal writes to the Acting Attorney General about the Binance monitorship
Letter to Acting Attorney General Todd Blanche. The letter asked whether the monitorship's scope had changed, what stage the monitor had reached, whether the monitor had reported misconduct and whether the Department had discussed ending the monitorship early. Fortune reported the same day that the Justice Department monitor and FinCEN monitor had been installed in 2024 and did not report that either had ended.
Last updated 30 October 2026. Spotted an error? See corrections. Every event links to the record it comes from. Allegations are attributed to whoever made them.