Asian Tech Press (Nov 29) -- Binance.US announced Tuesday that Binance founder Changpeng Zhao has decided to resign as chairman of the board of directors at the U.S. crypto exchange and transfer his voting rights through a proxy arrangement.

Binance.US said on social platform X it was not a party to the settlement announced last week due to operating separately and independently from Binance.com.

Moreover, the exchange declared that it also does not have any outstanding enforcement matters with the U.S. Department of Justice (DOJ), Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC), or the Commodity Futures Trading Commission (CFTC), and that it currently maintains full operations.

Last week, Binance, the world's largest cryptocurrency exchange, and its founder pleaded guilty to money laundering, among other charges.

On Nov. 22, Binance announced that Richard Teng, the global head of regional markets at Binance, will replace Zhao as CEO, effective immediately.