Binance founder Changpeng Zhao’s money laundering sentencing postponed to late April

A notice in the Seattle federal court shows that the criminal sentencing of Binance founder Changpeng Zhao on a money laundering rule charge has been postponed until April 30.

No explanation was given for the delay in sentencing Zhao.

Zhao, a Canadian national widely known as “CZ”, is free on a $175 million release bond in the United States.

Zhao pleaded guilty on Nov. 21 to a charge of failure to maintain an effective anti-money laundering program at Binance, the world’s largest cryptocurrency exchange.

As part of that plea, he agreed to step down as Binance’s chief executive officer and to pay a $50 million fine.

Binance also agreed to pay $4.3 billion in fines and restitution as part of its guilty plea to conspiracy to conduct an unlicensed money-transmitting business, conducting such a business and violating the International Emergency Economic Powers Act.

Zhao originally was scheduled to be sentenced on Feb. 23.

Leave a Reply

Your email address will not be published.