The post Can Binance Ex-CEO Changpeng Zhao Return to UAE? Judge’s Verdict Awaited Post-Guilty Plea appeared first on Coinpedia Fintech News
Changpeng “CZ” Zhao, founder and former CEO of Binance, resigned from his position following his guilty plea to three felony counts in a Seattle Federal Court. He may be allowed to return to his family in Dubai, but there are conditions attached.
CZ pleaded guilty to one count of violating the Bank Secrecy Act. However, the federal judge has not yet decided whether Zhao can return to the United Arab Emirates before his sentencing in February. Following his admission of breaching money laundering laws, Zhao agreed to a $50 million penalty.
This settlement with the Justice Department aims to keep Binance operational. Zhao’s resignation was in line with the terms agreed upon with the Commodities Futures Trading Commission and the Treasury Department.
Judicial Proceedings and Decisions
Federal Judge Richard Jones of the U.S. District Court for
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