Binance founder sentenced to 4 months in US prison for flawed AML programme

Changpeng Zhao, founder and ex-CEO of leading cryptocurrency exchange Binance, was given a four-month jail term, on 30 April, after pleading guilty to one charge of failing to maintain an effective anti-money laundering programme; he was also fined US$50 million.

Changpeng Zhao, founder and ex-CEO of leading cryptocurrency exchange Binance, was given a four-month jail term, on 30 April [2024], after pleading guilty to one charge of failing to maintain an effective anti-money laundering programme; he was also fined US$50 million.