April 17, 2024

La Ronge Northerner

Complete Canadian News World

Prosecutors want to keep Binance's CZ under stricter restrictions before sentencing

Prosecutors want to keep Binance's CZ under stricter restrictions before sentencing

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris on June 16, 2022.

Benoit Tessier, Reuters

US prosecutors have asked a judge to tighten the bond terms of billionaire Binance founder Changpeng “CZ” Zhao as he awaits his April sentencing on charges of violating a federal anti-money laundering law, court filings show.

Zhao pleaded guilty in late November to charges of failing to maintain an effective anti-money laundering program in violation of the Bank Secrecy Act, and resigned from his position as CEO of Binance at the same time.