Changpeng Zhao—founder of the cryptocurrency trading platform Binance—cannot return to his home in the United Arab Emirates for now, a federal judge in Seattle ruled Monday, according to Bloomberg and Reuters, as he awaits sentencing on anti-money laundering and sanctions violations.
Last week, Changpeng Zhao pleaded guilty to anti-money laundering and sanctions violations.
U.S. District Judge Richard Jones ruled Monday that, for now, Zhao cannot leave the United States after prosecutors argued there is a “substantial risk” that Zhao could flee and not return to the U.S., Bloomberg reported.
The judge still needs to rule on whether Zhao can return to the United Arab Emirates ahead of his February sentencing.
Last week, Zhao pleaded guilty to charges as part of a $4 billion settlement with federal regulators and stepped down from the company.
This is a breaking story and will be updated.
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