Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has been sentenced to four months in prison.
Judge Richard Jones, who presided over the sentencing hearing in the Western District of Washington on Tuesday, handed down a lighter sentence than the three years petitioned by the prosecution.
In November, Zhao—better known as CZ—pleaded guilty to willfully violating anti-money-laundering rules that enabled hundreds of millions of dollars in transactions involving US-sanctioned entities, including Iran and Cuba, to pass through the Binance platform. The plea deal required Zhao to step down as Binance chief executive and accept a $150 million fine, and for the company to pay a $4.3 billion penalty.
“Zhao’s willful
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