A U.S. judge, District Judge Richard Jones, has approved a plea deal in which Binance, the world's largest cryptocurrency exchange, will pay $4.3 billion for violations of anti-money laundering and sanctions laws. The penalty, one of the largest criminal penalties in U.S. history, comes after Binance admitted to money laundering and sanctions violations. The plea deal also includes a compliance monitoring requirement to ensure adherence to federal laws and seeks to modify founder Zhao's bond. This settlement marks a significant action by U.S. authorities in regulating the cryptocurrency industry and addressing lapses in internal controls at Binance. Additionally, prosecutors highlighted that Binance's platform supported the sale of child sexual abuse materials and received a substantial amount of ransomware proceeds.