US reaches over-$4 billion settlement with world’s largest cryptocurrency exchange, source says

WASHINGTON: The US government has reached a settlement with the world’s largest cryptocurrency exchange worth more than $4 billion, a person familiar with the agreement told The Associated Press on Wednesday.

The settlement with Binancewas confirmed on the condition of anonymity ahead of an expected announcement. The value of the settlement was first reported by Bloomberg.

It comes months after the company was accused of operating as an unregistered securities exchange and violating a slew of US securities laws in a lawsuit from regulators.