TechFlow reported, citing Bloomberg, that U.S. prosecutors submitted a sentencing memorandum on Friday to a federal court in Seattle regarding Binance's alleged violations of U.S. economic sanctions and anti-money laundering regulations. The filing requests the federal judge to approve a related plea agreement, which also requires Binance to undergo monitoring for five years.
In addition, Bloomberg revealed that former Binance CEO Changpeng Zhao has admitted guilt on charges of violating anti-money laundering laws, with sentencing expected in April this year. Although he could face up to 10 years in prison, the plea agreement suggests his sentence is likely not to exceed 18 months.
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