Court “Needs time to review prosecution’s request for ban on leaving the country”
I can’t go to the UAE with my family… There is no extradition treaty
It has been reported that founder Zhao Changpeng, who pleaded guilty in connection with Binance, the world’s largest virtual asset exchange, has been banned from leaving the United States.
According to foreign media such as CNBC on the 27th (local time), Judge Richard Jones of the U.S. District Court in Seattle said that the prosecution’s request for a ban on leaving the country must be reviewed, and that until then, “you cannot return to the United Arab Emirates (UAE).”
The sentencing hearing for Zhao Changpeng, who was released last week after paying $175 million (about 226.3 billion won) in bail, is scheduled for February 23 next year. The court also allowed Zhao to travel to the UAE, where his family was residing at the time.
However, the prosecution requested that Zhao Changfeng be prevented from leaving the country before he is sentenced. The UAE does not have an official extradition treaty with the United States. Zhao Changfeng’s defense team requested that Zhao Changfeng be allowed to leave the country to plead guilty, saying he “came to the United States voluntarily.”
Previously, Changpeng Zhao pleaded guilty to money laundering charges and decided to resign from his position, and Binance agreed with U.S. authorities to pay a fine of $4.3 billion (about 5.57 trillion won). This agreement concludes a multi-year investigation by U.S. authorities into Binance.
Binance did not operate an effective anti-money laundering system, brokered transactions between U.S. customers with users in sanctioned areas such as Iran, North Korea, Syria, and Crimea, and brokered transactions between U.S. customers and North Korean users. was charged with
Binance will continue to operate in the future, but new policies will apply. Binance must maintain and strengthen its business to comply with U.S. anti-money laundering standards. Binance must also appoint an independent compliance monitor.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.