Changpeng Zhao, the founder and former CEO of the world’s largest cryptocurrency exchange, Binance, must remain in the United States of America for the foreseeable future.
On Monday, a federal judge ruled that Zhao must remain in the US until his sentencing, which is scheduled to be held in February.
Zhao Cannot Leave For Now
US District Judge Richard Jones ruled in favor of the prosecution, who argued that there was a substantial risk that Zhao would flee if he were allowed to return to his home in the United Arab Emirates (UAE). The prosecution further argued that the United States does not have an extradition treaty with the UAE, effectively putting Zhao out of reach were he to leave US soil.
However, lawyers for Zhao argued that he was not a flight risk and pointed out that he came to the United States of America voluntarily to cooperate with the authorities and take responsibility for his and Binance’s actions. The former Binance CEO is a citizen of both the UAE and Can
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