Changpeng Zhao is claimed to be facing a potential 12-18 month prison sentence according to U.S. Sentencing Guidelines, with the Ministry of Justice allegedly gearing up to fight for a harsher penalty.
“I hope the Ministry of Justice has something in hand, or perhaps monitoring Binance will reveal even more terrifying and prosecutable offenses and other remedial requirements.”John Reed Stark
Former Securities and Exchange Commission official John Reed Stark also predicts a likely 12-18 month prison sentence.
“Government officials will have to present stronger evidence implicating Zhao in criminal activity.”Former Securities and Exchange Commission official
A Positive Process for the Future
While it is emphasized that CZ’s legal process has just begun and the risks of receiving more severe penalties continue to be a topic of discussion, many experts view this situation as highly positive for the future of the crypto sector as it signals the end of a long-standing issue between the U.S. and Binance.