Binance co-founder Changpeng Zhao’s return to the UAE is on hold after a federal judge ruled against it. Zhao pleaded guilty to US criminal charges and faces sentencing on Feb. 23. Zhao’s guilty plea relates to failure to implement anti-money laundering policies and US sanctions violations. He agreed to post a $175 million bond, secured by $15 million in cash, for his appearance at sentencing. Binance, the world’s largest cryptocurrency exchange, also pleaded guilty and agreed to pay penalties.
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