As the U.S. cryptocurrency industry continues to struggle with increasing legal and regulatory pressure, and some of its largest participants face litigation, the U.S. Department of Justice ("DOJ") has requested that Binance founder Changpeng Zhao ("CZ") be sentenced to three years in prison.
Specifically, Zhao, who stepped down as CEO of #Binance , one of the world's largest crypto exchanges, and admitted violating U. S. anti-money laundering laws as part of a $4.3 billion settlement last November, could be sentenced to 36 months in prison, according to an April 24 sentencing memo.
U. S. prosecutors proposed such a sentence to the Western District of Washington court, even though federal sentencing guidelines say the maximum sentence for #CZ would be 18 months.
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