Court Accepts Changpeng Zhao’s Admission to Violating US AML Laws

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A US District Judge in Seattle has acknowledged the guilty plea of former Binance CEO Changpeng Zhao (CZ) concerning charges linked to anti-money laundering violations.

According to court documents reported, a decision regarding Zhao’s permission to leave the United States before the sentencing on February 23, 2024, is pending.

Last month, CZ admitted guilt to breaching sanctions related to money laundering, leading to Binance agreeing to a $4.3 billion settlement with the US Department of Justice.

Zhao agreed to pay a $50 million fine and resigned as CEO of the exchange, also stepping down as chairman of the board of directors of Binance.US while maintaining a “purely economic” interest in the division.