The U.S. Department of Justice (DOJ) is reportedly seeking a tougher sentence for Binance founder Changpeng Zhao for violating money laundering laws.
According to Reuters, US prosecutors want Zhao to serve three years in prison, or twice the maximum 18 months recommended under federal guidelines.
In November, Zhao stepped down as CEO of Binance after he and the world’s largest crypto exchange pleaded guilty to violations related to the anti-money laundering requirements of the Bank Secrecy Act.
Binance is also accused of failing to report more than 100,000 suspicious transactions with terrorist groups, supporting the sale of child sexual abuse materials and being used for laundering ransomware proceeds.
According to Attorney General Merrick B. Garland, Binance became the world’s largest cryptocurrency exchange partly because of the crimes it committed.
“[N]ow it is paying one of the largest corporate penalties in…
