The court approved the settlement agreement between Binance and the Commodity Futures Trading Commission (CFTC).

Binance founder Changpeng Zhao will have to pay a fine of $150 million, and Binance will have to pay $1.35 billion. The exchange will also reimburse $1.35 billion in illegally obtained trading fees.

Binance also commits to implementing a corporate structure: a board of directors, a compliance committee, and an audit committee.

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