Does Binance face other legal challenges?
The Justice Department has been investigating whether Binance should face criminal charges for failing to implement an anti-money-laundering program, according to people familiar with the matter. It couldn’t be learned whether prosecutors plan to charge Zhao, but the CFTC’s complaint said he oversaw “all major strategic decisions,” including dealing with U.S. anti-money-laundering rules.
Does that mean Zhao could face criminal charges as well?
Possibly. Sam Bankman-Fried, the former head of failed crypto exchange FTX, faces criminal charges in the U.S. for what prosecutors allege was a massive fraud at his firm, after agreeing to be extradited here from the Bahamas. The CFTC said Zhao lives in the United Arab Emirates, which doesn’t have a mutual extradition treaty with the U.S.
‘Enforcement 40’ for 2020
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