- United States The lawyers want the old Binance CEO CZ to give up his Canadian passport and all his other passports before he gets his punishment.
- CZ can’t travel to other states in the U. S and need to tell the government three days before going anywhere.
- He admitted to not keeping a good system to stop money laundering at Binance, and is out on a $175 million bond.
The US Attorney’s Office has challenged Changpeng “CZ” Zhao, the former CEO of Binance. The police are getting stricter with CZ and are asking him to give up his Canadian passport and any other travel documents he might have. This is part of a bigger plan to make it more difficult for CZ to move around while he waits for his court hearing on April 30.
A letter asking for something was sent to the U. S The court in Western Washington on February 23rd. The US has asked Magistrate Judge Brian Tsuchida for help. Lawyer Tessa Gorman has to agree to a plan that would keep CZ in the United States. The rules would not only stop him from moving around freely, but they would also make him tell the government three days in advance if he wants to travel in the country. This would give them a lot of time to be unhappy.
This happened after CZ admitted that he didn’t have a good system to stop money laundering at Binance, and he pleaded guilty to a serious crime because of it. Since being accused of a crime, CZ has paid $175 million to get out of jail while awaiting trial. Even though CZ had some legal problems, he wanted to go visit his family in the United Arab Emirates. But the court said no.
The document also says that CZ is a citizen of the United Arab Emirates. It’s clear that the authorities are doing everything they can to make sure CZ stays in the United States until his court case. CZ has legal problems connected to Binance’s messy business with the U. S Regulators control or manage certain things. In November 2023, he left his job as CEO. Binance made a big deal with the U. S for $43 billion at the same time. Authorities This deal involved paying a $1. 8 billion penalty and giving up $2. 5 billion, showing how serious the charges were against the cryptocurrency exchange.
It’s not over yet. In June 2023, the SEC sued Binance and Binance. The two stock markets are still fighting in court. Richard Teng is now the CEO of Binance after CZ left. He used to be head of regional markets. In December 2023, Teng gave an interview to Cointelegraph and spoke about how Binance had changed. He stressed how different the exchange has become in the past six years. The company is trying to change its name and image to leave behind its past problems.
Warning: This information is not advice for trading.
