{"id":208728,"date":"2023-12-08T13:10:51","date_gmt":"2023-12-08T07:40:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/former-binance-ceo-cz-should-remain-in-us-judge-rules-crypto-news\/"},"modified":"2023-12-08T13:10:53","modified_gmt":"2023-12-08T07:40:53","slug":"former-binance-ceo-cz-should-remain-in-us-judge-rules-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/former-binance-ceo-cz-should-remain-in-us-judge-rules-crypto-news\/","title":{"rendered":"Former Binance CEO CZ Should Remain In US, Judge Rules – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Following the acceptance of the guilty plea by former Binance chief executive officer Changpeng Zhao (CZ), U.S. District Judge Richard Jones had on Thursday, December 7, 2023, ruled that the Binance founder has to stay back in the United States until sentencing, according to a court filing accessed by Reuters.<\/p>\n

Also Read: Fidelity Director: Holding Little Bitcoin \u201cCould Go A Long Way\u201d<\/strong><\/a><\/p>\n

<\/p>\n

CZ To Remain In US<\/h2>\n

According to the Reuters report, Changpeng Zhao should remain<\/a> in the continental United States before the sentencing scheduled for February 2023 in relation to the violation of U.S. anti-money laundering laws. Earlier, CoinGape reported<\/a> that the U.S. District Court for the Western District of Washington in Seattle accepted CZ\u2019s guilty plea to the money laundering charges. This followed the November 22, 2023 entry of guilty plea with the US Department of Justice (DOJ).<\/p>\n

In the latest court proceeding, the Seattle judge reportedly said the court was not sufficiently convinced as to whether he would return to the US if allowed to travel now. The court filing said,<\/p>\n

\n

\u201c\u201dWhile the bail package is substantial, if not unprecedented, it is a package that appears to be largely comprised of assets beyond the government\u2019s reach.\u201d<\/p>\n

<\/p>\n<\/blockquote>\n

US Stay Until At Least February 2024<\/h2>\n

<\/p>\n

The DOJ had earlier opposed CZ\u2019s leaving the US on the basis that he may abscond and subsequently, his extradition could become very difficult. On the other hand, CZ\u2019s lawyers argued that a substantial bail package was paid and that he was visiting the US voluntarily. The lawyers also stated<\/a> that CZ should be allowed to leave, allowing him to see his family in the UAE. Hence, the former Binance CEO is now mandated to stay back in the US until at least February 23, 2024.<\/p>\n

In the the plea agreement with the Justice Department, CZ potentially faces a maximum sentence of 18 months. However, it is also likely that the findings of the US DOJ and the guilty plea agreement could land the former Binance CEO in other legal troubles from regulators of the likes of the U.S. Securities and Exchange Commission (SEC).<\/p>\n

Also Read: Binance Backtracks on Abu Dhabi Licensing Pursuit<\/strong><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<\/p>\n

\n
\n
\n
\n
\n<\/p>\n

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com\/BitcoinReddy or linkedin.com\/in\/anveshreddybtc\/ <\/p>\n<\/p><\/div>\n

\n \"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<\/p><\/div>\n