iBNB

<ul><li>U.S. Department of Justice recommended a 36-month prison sentence for Changpeng Zhao, highlighting his willful violations of anti-money laundering laws.</li><li>Zhao acknowledged that disregarding U.S. regulations was crucial for Binance&#39;s rapid growth and profitability, boosting its revenue significantly.</li><li>Despite federal guidelines suggesting 18 months, Zhao consented to a potential 36-month sentence without the right to appeal.</li></ul>Changpeng Zhao, the founder of Binance, the world&#39;s largest cryptocurrency exchange, pleaded guilty to violating U.S. anti-money laundering laws. Following his guilty plea, the U.S. Department of Justice (DoJ) has <a href="https://m-economictimes-com.cdn.ampproject.org/v/s/m.economictimes.com/tech/technology/us-seeks-36-months-jail-for-binance-founder-changpeng-zhao/amp_articleshow/109554783.cms?amp_gsa&#61;1&amp;amp_js_v&#61;a9&amp;usqp&#61;mq331AQIUAKwASCAAgM%3D#amp_tf&#61;From%20%251%24s&amp;aoh&#61;17139468965779&amp;referrer&#61;https%3A%2F%2Fwww.google.com&amp;ampshare&#61;https%3A%2F%2Fm.economictimes.com%2Ftech%2Ftechnology%2Fus-seeks-36-months-jail-for-binance-founder-changpeng-zhao%2Farticleshow%2F109554783.cms" rel="noopener noreferrer nofollow">recommended</a> a sentence of 36 months in prison for Zhao. The recommendation was filed on Tuesday in the U.S. District Court for the western district of Washington.The authorities highlighted that under Zhao&#39;s leadership, Binance failed to report over 100,000 suspicious transactions linked to terrorist organizations such as Hamas, al Qaeda, and ISIS. Stressing Zhao’s “willful” violation of U.S. regulations, the DOJ <a href="https://www.courtlistener.com/docket/68025988/78/united-states-v-zhao/" rel="noopener noreferrer nofollow">wrote</a>:“He made a business decision that violating U.S. law was the best way to attract users, build his company, and line his pockets.”Further legal breaches outlined by the prosecutors include Binance&#39;s facilitation of transactions related to child sexual abuse materials and the platform being a significant recipient of ransomware payments. The <a href="https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.78.0.pdf" rel="noopener noreferrer nofollow">filing</a> accused Zhao and Binance of knowingly targeting U.S. users to expand their operations, fully aware that such actions would subject them to U.S. jurisdiction and regulations.<a href="https://cryptotale.org/binance-founder-zhao-faces-up-to-36-months-in-prison-foregoing-right-to-appeal/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Binance Founder Zhao Faces Up to 36 Months in Prison, Foregoing Right to Appeal

CryptoTale

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