Richard

Uniswap

April

Foundation

<ul>
 <li>The information was confirmed with his legal staff at Latham &amp; Watkins, as per a CNBC report.</li>
 <li>Judge Richard Jones handed down a four-month jail term to Zhao, at a hearing in April.</li>
</ul>
Crypto exchange Binance’s founder Changpeng Zhao (<a href="https://thenewscrypto.com/30k-crypto-community-backs-cz-in-dynamic-onchain-poll/" target="_blank" rel="noopener noreferrer nofollow">CZ</a>) has reported to a federal prison in Lompoc, California, to start serving his term. The information was confirmed with his legal staff at Latham &amp; Watkins, according to a CNBC report.
After his sentencing, Zhao discussed his intentions after jail, indicating that he intends to go back into the crypto industry after serving his four-month term at Lompoc. He is showing his unwavering faith in the digital asset market by intending to passively invest and keep his current crypto holdings.
<h3 class="wp-block-heading" id="h-following-regulations-crucial">Following Regulations Crucial</h3>
He stressed that the crypto sector is entering “a new stage” and that following the norms and regulations is crucial. Judge <a href="https://ballotpedia.org/Richard_Jones_(Washington)" target="_blank" rel="noopener noreferrer nofollow">Richard Jones</a> handed down a four-month jail term to Zhao, at a hearing in April in the U.S. District Court for the Western District of Washington. The charges against Zhao stem from money laundering at his crypto exchange.
A fine of $50 million was also imposed on him. Federal prosecutors had originally proposed a three-year term for the former <a href="https://thenewscrypto.com/binance-research-bitcoin-scalability-advances-amid-new-developments-and-rising-fees/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> boss, but the judge handed down a much smaller penalty. The sentence recommendations were for a 12-to 18-month jail term, but CZ’s attorneys asked for a five-month probation instead.
After admitting his guilt, CZ expressed regret and said that he “had a lot of quiet time alone to think and reflect” before his sentencing. Furthermore, he acknowledged that he was to blame for Binance’s ineffective Anti-Money Laundering (AML) policy. Earlier, in response to Judge Jones’ ruling, Zhao said that he will show up at a predetermined time to report to jail.
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Binance Founder Changpeng Zhao Begins Four-Month Prison Term

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