Changpeng Zhao Cannot Leave America Until The Verdict Is Dropped

JAKARTA - Binance's former Chief Executive Officer (CEO), Changpeng Zhao (CZ), is required to stay in the United States (US) until a court decision. This is stated in court documents regarding CZ status.

US District Judge Richard Jones on Thursday, December 7, 2023, ruled that the founder of Binance should stay in the US until the verdict is handed down. This decision was taken after CZ admitted his guilt regarding money laundering charges.

According to a Reuters report, CZ is required to remain in the US before the verdict scheduled for February 2023 regarding violations of US anti-money laundering law.

Earlier, CoinGape reported that the US District Court for Washington Western Territory in Seattle received CZ's guilty confession of money laundering charges. This follows a guilty confession filed on November 22, 2023, to the US Department of Justice (DOJ).

In a recent trial, a judge in Seattle reportedly revealed that the court was not so sure whether CZ would return to the US if allowed to travel. Therefore, the former Binance CEO is now required to stay in the US until no later than February 23, 2024.

In a guilty plea agreement with the Department of Justice (DOJ), CZ has the potential to face a maximum sentence of 18 months. Not only that, but the entanglement of CZ by DOJ does not rule out the possibility of a lawsuit from the regulator, namely the US Securities and Exchange Commission (SEC).