Changpeng Zhao may not leave the US pending court review, says judge

Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice including crypto exchange Binance, might not be permitted to leave the nation as he awaits sentencing.According to a Nov. 27 filing in the U.S. District Court for the Western District of Washington at Seattle, Judge Richard Jones remained a decision by a magistrate judge that would have enabled CZ to go back to the United Arab Emirates (UAE), where he has member of the family. The judge ordered that CZ would not be allowed to take a trip to the UAE until a court ruled on a movement for review from the U.S. government.Source: CourtlistenerRelated: Binance CEO lays out strategy for crypto exchange after CZ actions downOn Nov. 21, Zhao pleaded guilty to one felony count for failure to preserve an efficient Anti-Money Laundering program during his time as CEO of Binance, breaching the U.S. Bank Secrecy Act. After posting a $175 million bond, he remains essentially free to take a trip within the U.S. up until his sentencing, expected in February 2024. Under federal sentencing standards, CZ might confront 18 months in prison.CZ stepped down as CEO of Binance on Nov. 21 as part of a settlement with the U.S. Department of Justice, in which he pleaded guilty to one felony charge and agreed to pay $150 million to regulators. The contract mostly enabled the crypto exchange to prevent service charges in exchange for approximately $4.3 billion in penalties.Magazine: US enforcement agencies are showing up the heat on crypto-related criminal activity