US seeks 36 months' jail for Binance founder Zhao

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Changpeng Zhao News

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Changpeng Zhao, the founder of Binance, the world's largest cryptocurrency exchange, should serve 36 months in prison after pleading guilty to violating laws...

NEW YORK - Changpeng Zhao , the founder of Binance , the world's largest cryptocurrency exchange, should serve 36 months in prison after pleading guilty to violating laws against money laundering, U.S. prosecutors said in a court filing on Tuesday.

Federal sentencing guidelines set a maximum sentence of 18 months in prison for Zhao, who had agreed not to appeal against any stretch up to that length. He has been free in the United States on a $175-million bond.U.S. authorities have said Binance failed to report more than 100,000 suspicious transactions with designated terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria, or ISIS.

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