Richard

United

Bank AI

April

A U.S. district court has changed the bail conditions for Binance cryptocurrency exchange founder Changpeng Zhao and ordered him to surrender his Canadian passport.
As the <a href="https://www.wsj.com/livecoverage/cpi-report-today-inflation-stock-market-03-12-2024/card/binance-founder-must-surrender-passport-judge-orders-4LG328V5oubRkzZdnRgn" target="_blank" rel="noopener noreferrer nofollow">Wall Street Journal</a> reports, the Ministry of Justice’s request was satisfied. The court has now ordered Zhao to surrender all valid and expired passports. The entrepreneur must transfer the documents to a person his lawyers will hire, who will accompany the former head of <a href="https://crypto.news/tag/binance/" rel="noopener noreferrer nofollow">Binance</a> on all trips where a passport may be needed.
In addition, <a href="https://crypto.news/tag/Changpeng-Zhao/" rel="noopener noreferrer nofollow">Zhao</a> can only issue new documents with the court’s permission. He is also obliged to notify the relevant services of his movements.
You might also like: <a href="https://crypto.news/changpeng-zhao-resigns-as-chair-of-binance-us/" rel="noopener noreferrer nofollow"> Changpeng Zhao resigns as chair of Binance.US </a>
In November 2023, Zhao pleaded guilty to violating the Bank Secrecy Act and agreed to pay a fine. Soon after, Zhao was released on bail of $175 million.
In December, Judge Richard A. Jones formally <a href="https://crypto.news/binance-founder-changpeng-zhao-grounded-again-us-court/" target="_blank" rel="noopener noreferrer nofollow">barred</a> the entrepreneur from leaving the United States pending a verdict in his case. U.S. Justice Department prosecutors believe there is a substantial risk that Zhao will not return to the United States. The court cited his “significant assets,” close ties to the <a href="https://crypto.news/tag/UAE/" target="_blank" rel="noopener noreferrer nofollow">UAE</a>, and the country’s lack of an extradition treaty with the United States.
The sentencing date in the Zhao case has been <a href="https://crypto.news/changpeng-zhaos-criminal-sentencing-postponed-to-late-april/" rel="noopener noreferrer nofollow">postponed</a> to April 30. It was originally scheduled for March but was delayed for unknown reasons.
The entrepreneur may face up to 18 months in prison after pleading guilty to violating anti-money laundering laws in the U.S. According to former U.S. <a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> employee John Reed Stark, representatives of the Ministry of Justice <a href="https://crypto.news/john-reed-stark-details-why-binance-doj-actions-are-victory-for-sec/" target="_blank" rel="noopener noreferrer nofollow">will insist</a> on a more severe punishment.
You might also like: <a href="https://crypto.news/changpeng-zhao-tops-list-of-crypto-billionaires-despite-legal-woes/" rel="noopener noreferrer nofollow"> Changpeng Zhao tops list of crypto billionaires despite legal woes </a>

Binance founder Changpeng Zhao ordered to surrender Canadian passport

crypto.news

2024년 3월 12일에 게재된 다른 기사

Crypto Institutional Investors Are Frontrunning Retail As Inflows Reach Record Highs

JPMorgan CEO Backs Individual Rights in Bitcoin Investments

Dogecoin (DOGE) Pumping For The Second Week In A Row, Will Bulls Send It To $1? Analysts See This...

M. Saylor: “Bitcoin does not need to replace fiat currency”

Injective (INJ) Price Marks New All-Time High as Whales Accumulate

BREAKING! US Inflation Data Announced! What Was the First Reaction of Bitcoin and the Dollar?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!