US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Binance founder Changpeng Zhao could spend 36 months in prison, per a Reuters report. US prosecutors told the district court that Zhao’s willful violation of the law and its consequences warrants a 36-month sentence. Binance ’s native token BNB is trading broadly unchanged at $607 on Wednesday. US prosecutors are requesting Binance founder and former CEO Changpeng Zhao to serve a three-year jail time, according to a Reuters report published Wednesday.
Changpeng Zhao pled guilty to the violation of US laws against money laundering in November, and stepped down from his position. CZ faces trial in Seattle starting April 30 While Federal sentencing guidelines set a maximum sentence of 18 months for the Binance founder, prosecutors are keen on pushing it higher. Zhao has previously agreed not to appeal against any sentence that stretches up to 18 months of jail time.
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