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Changpeng “CZ” Zhao, the CEO of cryptocurrency exchange Binance, has entered a guilty plea to one felony charge as part of a deal with the US Department of Justice. The charge relates to a violation of the US Bank Secrecy Act, specifically for failing to operate an efficient anti-money laundering program. While awaiting sentencing, CZ may not be allowed to leave the country, as a judge has suspended a decision to allow him to return to the United Arab Emirates where he has family. The judge stated that CZ’s travel restrictions will remain in place until a court decision is made regarding a motion for review by US authorities. CZ has been granted a $175 million bond, which allows him to travel within the United States until his sentence, scheduled for February 2024. He could face up to 18 months in prison under federal sentencing guidelines. As part of the settlement with the Department of Justice, CZ has resigned as CEO of Binance and agreed to pay regulators $150 million. The settlement has spared Binance from further accusations and resulted in almost $4.3 billion in penalties. The Department of Justice has taken an aggressive stance in this legal drama, considering a significant 10-year prison sentence. CZ’s opposition to being detained in the United States prompted the prosecution’s recent filing.