Hi everyone I'm Rose Marie Miller here with John Hyatt, a senior wealth

reporter here at Forbes here to tell us about Binance, Chang Ping Zao and what this plea deal means for the crypto industry.

Thank you so much for joining me today, John.

Thanks for having me.

Absolutely.

So, John, what does all this mean?

I mean, the public perception has certainly changed around CZ.

What is it looking like now?

Yeah, you know in some ways this plea deal that CZ has struck is the culmination of sort of years worth of news.

There have been many reports of a DOJ investigation of CZ for the last year or two. Earlier this year the SEC sued CZ in

Binance, which was followed by a lawsuit by the Commodities Futures and Trading Commission

so there's been a lot of u s pressure on c z and you know c z's been living in

Dubai

uh... and there been reports that he was you know working with lawyers who were in

talks with prosecutors in the US but this is a profound moment for binance and for the crypto industry.

How will this affect binance?

So binance is going to be subject to US government regulation essentially, not just regulation, but there's going to be an independent

compliance monitor who...

Let me set you right there.

For clarity, are we talking about finance or

finance US or all of it? Talking about all of it. Okay. Binance, the international

company is going to be, which is the predominant business.

...