BTC Loses 1.0% after Binance Deal with the U.S.
Bitcoin (BTC) lost 1.0% since Binance Founder and CEO Changpeng “CZ” Zhao stepped down and pleaded guilty to violating U.S. anti-money laundering laws. Volatility has increased in the crypto market on the news. The settlement could decrease regulatory pressure on the industry. On the other hand, this may foster many other investigations against key market players. . The U.S. SEC has recently filed a lawsuit against Kraken crypto exchange alleging it in operating an unregistered securities business in the U.S. and mixing its own funds with its customers’. This case is very similar to what had happened with Binance in the beginning. So, the situation may become worse if SEC continues to raid the industry.
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