Changpeng Zhao agreed to step down as CEO as part of the $4 billion settlement reached with the Ministry of Justice.
Zhao and others were accused of failing to take adequate precautions against proceeds of crime and knowingly violating US sanctions.
Zhao was charged with personally contributing to a financial institution's violation of the Bank Secrecy Act and agreed to pay a $50 million fine.
Binance is accused of providing unauthorized payment services, committing the crime of conspiracy, and violating the International Emergency Economic Powers Act.
Binance's former CEO will not be able to play any role in Binance in the future.
