During the hearing, District Judge Richard A. Jones denied the US Department of Justice's request to sentence Changpeng Zhao to prison for three years. Reason: there was no evidence that the defendant was informed about illegal activities on the exchange.
Justice Department officials insisted that putting Changpeng Zhao on probation would also be the wrong decision because “it could encourage others to break the law and to do so on the largest possible scale.” The court agreed with the argument.
Speaking with the last word, Changpeng Zhao admitted that during his leadership he was unable to properly build a decent customer verification system and anti-money laundering (KYC/AML) system at Binance.
Previously, the co-founder of Binance sent a letter to the court involved in his case, declaring that he would not like to encounter the US criminal justice system in the future.
Source: Bits
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