Latest Update on Binance Case: CZ Might Have to Stay in the US Longer Than Expected
Following the shocking news of the US-Binance agreement, the process is not yet over and there are new developments. It seems that this incident will further occupy the agenda of cryptocurrency investors. According to the latest report, CZ may have to stay longer in the US where he went for the trial.
Latest Update on Binance Case
According to court documents, US prosecutors are trying to prevent former Binance CEO Changpeng Zhao from going to the UAE before his sentencing hearing on February 24, 2023. The US Department of Justice requested the judge on Wednesday to require Zhao to stay in the US and prevent him from returning to the United Arab Emirates before serving his sentence. CZ admitted to violating the laws during the hearing held on Tuesday.
During this trial, CZ stated that he came to the US to start a clean slate and that it was a gesture of good faith, expressing his desire to return to the UAE. According to a statement from a spokesperson for the Department of Justice, CZ will stay in the Seattle area until at least Monday and will be able to return to his actual residence in the UAE if there are no obstacles.
If CZ does not return to his country by February 24, this situation will be (according to his statements in court) distressing for him. Some experts, such as John Stark, claim that he could face imprisonment for the crimes he confessed, but it is expected that the DPA agreement will prevent this.