While Changpeng “CZ” Zhao received a surprisingly moderate jail term, Oregon has become the sixth state to revoke, suspend or decline to renew Binance.US’ license.
A United States judge has sentenced former Binance CEO Changpeng “CZ” Zhao to four months in prison for violating U.S. money laundering laws.
Prosecutors had recommended that the former Binance CEO serve three years for failing to maintain an effective Anti-Money Laundering program while at the crypto exchange, to which he pleaded guilty.
Judge Richard Jones said there was no evidence Zhao “was ever informed” of specific illegal activities at Binance, rebutting prosecutors’ request to increase the sentence from 18 months to three years.
