CZ’s charges are serious, justified, and “sent a message” to the industry that compliance “must be taken seriously,” says lawyer and RMIT lecturer Dr. Aaron Lane.
Binance founder Changpeng “CZ” Zhao’s four-month prison sentence for money laundering appears to be an act of “general deterrence” with the judge sending a clear message to the crypto industry: ‘Comply’ — says lawyer Dr. Aaron Lane.
“General deterrence appears to be the main rationale behind the term of imprisonment,” Lane, a senior law lecturer at Melbourne’s RMIT Blockchain Innovation Hub, told Cointelegraph.
Lane said the United States was “justified” in bringing the charges against Zhao, who pleaded guilty on April 30 to charges of failing to maintain an effective Anti-Money Laundering program.
