In a statement, White House Press Secretary Caroline Levitt confirmed information that President Trump granted a legal pardon to Binance founder Chao Changpeng on Wednesday, October 22nd.
Chao was indicted during President Joe Biden’s administration in what the current administration calls the “war on cryptocurrencies.” “The Biden administration’s virtual currency war is over,” the office added.
Chao Changpeng He was processed in November 2023 “Binance violated the BSA by failing to implement an effective anti-money laundering program.” This quote is from the U.S. Department of Justice, Criminal Division website.
According to the Federal Deposit Insurance Corporation (FDIC), “BSA is the common name for a set of laws and regulations enacted in the United States to combat money laundering and terrorist financing.”
Analysts at the Wall Street Journal expressed the opinion that the Binance founder has been granted amnesty. This would pave the way for exchanges to return to the United States. Starting in September 2019, Binance limited its service to users in the United States.