Binance said to settle charges with Justice Department

Cryptocurrency exchange Binance is set to settle a years-long probe with the U.S. Justice Department, a person familiar with the matter told CoinDesk, noting a deal will be announced later Tuesday. The news comes after Bloomberg reported Monday that the DOJ wants Binance to fork over more than $4B in penalties as part of a proposed resolution of an investigation into the Changpeng Zhao-led crypto trading platform. Talks between the DOJ and Binance include the possibility that Zhao would face criminal charges in the U.S. under a deal to resolve the long-running investigation into alleged sanctions violations, money laundering and bank fraud Charges tied to a specific person are likely, another person who isn't directly involved in the situation said, CoinDesk reported. More on Binance Binance to halt access to its crypto exchange for new U.K. users Binance sells Russia operations to crypto exchange CommEX Binance's U.S. affiliate stop direct dollar withdrawals