The Seattle federal court has postponed the sentencing decision for former Binance CEO Changpeng Zhao (CZ) to the end of April 2024, as reported by CNBC. The court announced that the decision regarding CZ’s sentencing for charges related to money laundering rules violations would be delayed until April 30.
Although the court provided no explicit reason for the postponement in its statement, it has raised questions about the circumstances surrounding CZ’s case. Despite CNBC sourcing its information from Seattle federal court records, CZ’s lawyer, William Burck, chose not to address inquiries about the delay or offer any commentary on the matter.
Originally, the hearing on the money laundering charges against CZ was scheduled for the end of February, with the expectation of a sentencing decision. However, the court has pushed back the hearing to April 30, citing potential considerations by prosecutors for seeking further punishment.
Under US Federal criminal laws, CZ faces a maximum sentence of 18 months in prison for the charges against him. However, prosecutors are reportedly contemplating requesting a more severe penalty.
The significant events of 2023 included legal actions taken against Binance by US regulatory bodies and Binance’s subsequent agreement with US authorities. Both Binance and CZ admitted to the allegations leveled against them and agreed to a $50 million fine. Binance, the Bitcoin exchange, consented to pay a historic $4.3 billion penalty.
Moreover, the court’s decision to restrict CZ from leaving the United States, despite his residence and residence permit in Dubai, remains in effect. With the latest postponement, CZ will be unable to travel outside the US until the conclusion of the sentencing proceedings at the end of April.
