Changpeng Zhao agreed to plead guilty to money laundering charges and step down from Binance as part of a sweeping settlement with the Department of Justice and top regulators.
Congress, which has been unable to pass comprehensive crypto legislation, is digging into what happened as regulators try to police the new, mysterious world of virtual currencies with old laws.
Washington policymakers will soon start deciding on new rules for cryptocurrencies, setting up a fight between supporters and critics of the $2.5 trillion market.
