U.S. seeks 3 years for Binance's Zhao for money laundering, exceeding typical guidelines, while no TradFi executives faced prison for their extensive financial crimes.
Changpeng Zhao's legal team believes the proposal to hand Binance's former CEO a three-year sentence is too much, considering how he was only charged of AML compliance failure.
Once the most powerful figure in the crypto industry, Zhao stepped down as Binance’s chief last November, when he and the exchange admitted to evading anti-money-laundering requirements.