CZ Takes Aim at Bank of America Over $1.21 Billion AML Penalty

Binance founder Changpeng Zhao (CZ) took a swipe at Bank of America on Wednesday after the banking giant was slapped with more than $1.21 billion in federal penalties for anti-money laundering (AML) and sanctions violations. Regulators found the bank failed to timely report more than $5 billion in suspicious transactions, yet no executives faced criminal charges. Zhao’s pointed commentary drew attention to that distinction, with other cryptocurrency commentators joining the discussion. Binance founder Changpeng Zhao (CZ) had a few choice words on Wednesday after Bank of America got walloped with more than $1.21 billion in federal penalties for anti-money laundering and sanctions violations.

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