Zhao Changpeng will be sentenced on April 30 in the U.S. District Court for the Western District of Washington

2024-04-16 09:47:05

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ChainCatcher news, according to Cointelegraph, former Binance CEO Zhao Changpeng (CZ) is set to be sentenced on April 30, 2024, at the U.S. District Court for the Western District of Washington, after pleading guilty to violating the Bank Secrecy Act by failing to maintain effective anti-money laundering procedures.

It is reported that Zhao Changpeng's actions included not meeting the required anti-money laundering standards in Binance's operations. He has reached a settlement with U.S. authorities, agreeing to pay $4.3 billion to resolve civil regulatory enforcement actions. According to U.S. sentencing guidelines, he faces a recommended prison term of 12 to 18 months, but considering his cooperation and guilty plea, he may receive a more lenient sentence.

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