The passport of the former CEO of Binance must remain in the United States while he awaits trial.
Former Binance CEO Changpeng Zhao is now required to renounce his Canadian passport and remain in the United States in accordance with revised probationary terms imposed by a court. The purpose of this modification is to guarantee that Zhao will remain in the nation while he awaits his sentence for breaking regulations governing financial secrecy.
Richard Jones, a judge in the United States, has made the decision that Zhao’s passport will be held by a reliable third party, and then that person will accompany him on any necessary journey inside the United States. As a result of the worries expressed by the prosecution over the possibility that Zhao intended to leave the country, he is prohibited from acquiring new travel papers or passports without the specific authorization of the court.
In spite of the fact that Zhao’s legal team attempted to negotiate arrangements that would allow him to go internationally, the court has ordered that Zhao remain in the United States and that he must inform the authorities of any intentions he has to travel inside the country. In November, Zhao, who is also a citizen of the United Arab Emirates, offered his resignation from his role as CEO of Binance after acknowledging that he was responsible for the incident.
Also Read: Drake takes a positive stance on Bitcoin by aligning with MicroStrategy’s outlook
