Binance, a renowned cryptocurrency exchange, once at the forefront of the digital asset market, is now battling with legal investigations, with CZ at the center of the storm. Authorities contend that the exchange failed to comply with crucial regulatory standards, raising concerns about the security and legitimacy of its transactions. What direction are we heading to and where are we safe to carry out crypto-related activities?
He has already pleaded guilty to all charges and has agreed to pay the fines still he has not been allowed to leave the US. The reason is that he was supposed to leave for the UAE and the US does not have any extradition treaty with the UAE. The judge believes that he might not come back for his judgment and might tamper with evidence. The US is trying to create an impression among other exchanges that either you comply or we will take strict action. If CZ is found guilty which he would be as he has already pleaded guilty, then he may be imprisoned for a minimum of 6 months to 10 years.