Richard

Coin

<ul class="news-points">
 <li>U.S. District Judge Richard Jones in Seattle ordered Binance Founder Changpeng Zhao to a 4-month imprisonment.</li>
 <li>The judge states there is no evidence that Zhao was ever informed of Binance’s illegal activities.</li>
 <li>Zhao accepts responsibility for his actions, stating that the first step is recognizing his mistakes.</li>
</ul>
Binance Founder Changpeng Zhao, once considered the most powerful figure in the crypto world, was<a href="https://www.reuters.com/legal/binances-ceo-zhao-faces-sentencing-over-money-laundering-violations-2024-04-30/" target="_blank" rel="noopener noreferrer nofollow"> sentenced</a> to four months in prison for violating anti-money laundering rules. In a Tuesday <a href="https://storage.courtlistener.com/recap/gov.uscourts.wawd.328570/gov.uscourts.wawd.328570.90.0.pdf" target="_blank" rel="noopener noreferrer nofollow">hearing</a>, U.S. District Judge Richard Jones in Seattle ordered the sentence, which is significantly lesser than the three years sought by prosecutors.
In November 2023, Zhao <a href="https://coinedition.com/zhao-pleads-guilty-steps-down-as-binance-ceo-in-4-3bn-settlement/" rel="noopener noreferrer nofollow">pleaded guilty</a> to breaching anti-money laundering laws and agreed to pay $4.3 billion in settlement. He was also accused of supporting the sale of child sexual abuse materials and received a large portion of ransomware proceeds.
Zhao highlighted the significance of accepting the responsibility minutes before the hearing. He cited,
<blockquote class="wp-block-quote">
 “I think the first step to taking responsibility is to fully recognize the mistakes. Here, I failed to fully set up a [know-your-customer program. I also reco…
</blockquote>
The post <a href="https://coinedition.com/court-rules-changpeng-zhaos-4-month-sentence-prosecutors-criticize/" rel="noopener noreferrer nofollow">Court Rules Changpeng Zhao’s 4-Month Sentence, Prosecutors Criticize</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Court Rules Changpeng Zhao’s 4-Month Sentence, Prosecutors Criticize

Coin Edition

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