Binance’s Zhao Can’t Return to UAE From US for Now, Judge Says
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1970-01-01 08:00
Binance Holdings Ltd’s Changpeng Zhao won’t be able to return to his home in the United Arab Emirates

Binance Holdings Ltd’s Changpeng Zhao won’t be able to return to his home in the United Arab Emirates for now, a federal judge in Seattle ruled, putting on hold a decision allowing him to leave the US before his sentencing.

US District Judge Richard Jones on Monday stayed a ruling granting the multi-billionaire’s request to return to the UAE before his February sentencing. US prosecutors have asked the court to reverse that decision.

Prosecutors have said there is a “substantial risk” that Zhao, who pleaded guilty last week to anti-money laundering and US sanctions violations as part of a broad agreement with the government, won’t return to the US because of his significant assets, his ties to the UAE and the inability to extradite him.

Read More: Binance’s Zhao Shouldn’t Be Allowed to Travel to UAE, US Says

--With assistance from Yueqi Yang.

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