Judge temporarily bans Binance founder from leaving the United States

A judge this Monday prohibited the founder of Binance, Changpeng Zhao, from temporarily leaving the United States and traveling to his home in the United Arab Emirates, after he pleaded guilty to the crime of money laundering last week and resigned from his position at the company.

The guilty plea came last Tuesday as a result of a deal between Zhao and the Department of Justice, and a judge initially allowed him to return to his home in the Emirates while the sentence was pronounced next February.

However, the Prosecutor's Office opposed that trip for fear that he would not return for the trial, and due to the fact that there is no extradition treaty in force between the United States and the Emirates.

Therefore, in his ruling this Monday, District Judge Richard A.. Jones of Seattle considers that this permission granted to Zhao is suspended “until the court resolves the Government's (prosecutor's) request.”

Binance, the largest cryptocurrency platform in the world, agreed last week with the United States Department of Justice to pay a fine of 4.3 billion dollars (about 3.925 million euros) and the resignation of its CEO, Changpeng Zhao, in exchange for be able to continue operating in the country.

Zhao is provisionally released in lieu of $175 million bail.