As a former financial regulator who brought hundreds of enforcement actions against banks and their executives, I believe the consent order between the U.S. government and Binance and the plea by its CEO seemed lenient, given the circumstances. The firm was charged with intentionally evading U.S. anti-money-laundering (AML) laws and encouraging its customers to obscure where they were. The government described Binance’s actions as “willful,” exposing the public to "significant harm.” That seems mild, considering that, according to the consent order, Binance was facilitating transactions involving U.S.- designated terrorists like Hamas and purveyors of child sexual abuse material.
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