Changpeng Zhao Guilty Plea Accepted By US Judge: Report

According to Reuters, Changpeng Zhao guilty plea has been approved by U.S. District Judge Richard Jones, Zhao awaits sentencing in February, with prosecutors requesting that he stay in the U.S. until then. Sentencing is scheduled for February 23, 2024. The company pleaded guilty to breaking U.S. anti-money laundering and sanctions laws. Alongside Binance, Changpeng Zhao himself also pleaded guilty to the charges and is currently awaiting sentencing, which is scheduled for February. As of now, the sentencing is scheduled for February 23, 2024. Despite awaiting sentencing, Zhao has been released on bond. However, prosecutors have requested that he be required to stay in the U.S. until the sentencing process is complete. They argue that Zhao poses a serious risk of flight. On the other hand, Zhao’s attorneys have strongly asserted that he is not a flight risk and should be allowed to return to the UAE, where his family currently resides, until February. Under the current terms of his bond release, Zhao would be permitted to return to the UAE, but he would have to come back to the U.S. two weeks before the scheduled sentencing date. However, Judge Jones recently stayed that part of Zhao’s release until a final ruling is made on the matter.