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Binance founder Changpeng “CZ” Zhao can pay a $175 million launch bond and conform to return to america 14 days earlier than his Feb. 23, 2024 sentencing — probably permitting him to return to Dubai.
In a Nov. 21 bond doc filed in a Seattle federal court docket, Zhao agreed to share with the court docket the place he would reside and {that a} warrant could possibly be issued for his arrest if he fails to point out up for his court docket date.
Failure to seem in court docket carries a $250,000 advantageous and a most of 10 years in jail.
The U.S. is predicted to overview Zhao’s bail order. If a choose denies overview of the order, it would grow to be efficient on Nov. 27 at 5 pm Washington time. If the choose grants a overview earlier than that date, Zhao should keep within the U.S. till a choice is made.
No extradition settlement exists between the U.S. and the United Arab Emirates. Nevertheless, the 2 international locations made a bilateral agreement to boost regulation enforcement cooperation on Feb. 24.
Associated: Court unseals indictments against Binance and CZ, detailing expected guilty pleas
Zhao has been primarily based in Dubai for a number of years. Regardless of his presence there, Binance nonetheless has no official international headquarters.
The bail settlement follows a $4.3 billion settlement between the cryptocurrency trade and the united stateswhich noticed Zhao depart as Binance’s CEO after pleading responsible to numerous Anti-Cash Laundering violations.
Journal: US enforcement agencies are turning up the heat on crypto-related crime
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