CZ contrasts Binance’s US case with Bank of America’s $1.2B fine

CZ has contrasted Binance’s US case with Bank of America’s legal treatment, saying the bank faced more serious violations yet received a $1.2 billion fine without prosecution. He made the comparison while discussing Binance’s conduct, his decision to plead guilty and his experience of serving time. In CZ’s account, the distinction involved both the severity of the violations and the legal outcomes. He characterized Binance’s conduct as registration-related violations , saying it involved neither fraud nor victims. He also maintained that the exchange’s users had been well protected.

Source: The Cryptonomist