#赵长鹏

All pending matters have finally come to a conclusion, and CZ has officially begun his prison service, and is expected to be released in October this year. This indeed marks that Binance will fully enter a new era of government regulation in accordance with the law.

This incident not only reveals the complexity of the cryptocurrency industry in regulatory issues such as anti-money laundering, but also shows the possibility of a win-win situation between the government and enterprises through cooperation. Undoubtedly, this provides an important reference model for countries around the world to deal with similar issues. However, it is regrettable that the huge fine of up to $4.3 billion, which could have been kept in our great Eastern country, was eventually transferred to the Americans due to some bureaucratic decisions that were unwilling to deeply understand and adapt to the development trends of new technologies.

It is reported that Zhao Changpeng (CZ), the founder of Binance Exchange, has gone to a federal prison in California, USA, to serve his sentence in accordance with the verdict.

In November last year, Zhao Changpeng reached a settlement agreement with the US government, ending a long-term investigation into Binance. As part of the settlement, he resigned as CEO of Binance. Although he no longer directly manages the company, he still holds about 90% of the shares and is still the actual controller of Binance.

Zhao Changpeng was accused of failing to effectively implement an anti-money laundering program and allowing Binance to process transactions involving proceeds from illegal activities, in violation of the requirements of the Bank Secrecy Act. The U.S. government required Binance to pay $4.3 billion in fines and forfeitures, and Zhao Changpeng personally agreed to pay a $50 million fine.

In April of this year, Zhao Changpeng was sentenced to four months in prison for pleading guilty to money laundering charges. This sentence was much lighter than the three-year sentence originally requested by federal prosecutors. Before the sentencing, he told the judge that he recognized his shortcomings in anti-money laundering and expressed deep regret.

The latest news comes from CNBC. Zhao Changpeng has reported to a federal prison with a lower security level, and his defense law firm has also confirmed the news. This means that, as things stand, CZ is expected to end his prison life in October this year and start a new chapter in his life. After all, he is still young and there are still unlimited possibilities in the future.

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