Binance Faces Historic Crackdown by US Justice Department

In a landmark development, Binance, the world's largest cryptocurrency exchange, has come under intense scrutiny from US regulators. The company, known for its rapid growth since its 2017 inception and a somewhat defiant stance towards US financial regulations, is now facing one of the most severe money-laundering settlements in the history of the US Justice Department. This crackdown signifies a major shift for Binance: from being a hub of unrestricted crypto trading to potentially becoming the most compliant entity in the crypto industry with US regulations. As part of the settlement, Binance will have to open its historical transaction records, a move that exposes over a half-decade of user data to US regulators and law enforcement. https://arstechnica.com/tech-policy/2023/12/us-regulators-will-now-have-access-to-years-of-binance-transaction-data/