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Former Binance CEO Changpeng Zhao to Face Prison for Failing Anti-Money Laundering Protocols, Says CFTC Chair

Former Binance CEO Changpeng Zhao is expected to face prison time after pleading guilty to failing to maintain adequate anti-money laundering protocols for the world's largest crypto exchange, according to CFTC Chair Rostin Behnam. The CFTC, Justice Department, and Treasury have imposed over $4 billion in fines on the criminal and civil side. Zhao, a citizen of two other nations, has been ruled to stay in the US until his sentencing in February 2022, as he poses a serious risk of flight. The government argues that Zhao has minimal ties to the US and a residence in a country without an extradition treaty with the US.

Changpeng Zhao Money Laundering
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