Media: the court changed the bail conditions for the founder of Binance and ordered CZ to hand over his passport
The U.S. District Court ordered Changpeng Zhao to surrender his Canadian passport. The entrepreneur must hand over the identity card to a trusted person hired by CZ lawyers.
The US District Court has changed the bail conditions for the founder of the Binance cryptocurrency exchange Changpeng Zhao (CZ) and ordered him to surrender his Canadian passport. Thus, the requirement of the Ministry of Justice was satisfied, the WSJ writes.
Judge Richard A. Jones had previously officially banned the businessman from leaving the United States before sentencing in his case. In November 2023, CZ pleaded guilty to violating the law "On Bank Secrecy" and agreed to pay a fine. Shortly after, Zhao was released on $175 million bail.
Now the court has ordered CZ to hand over all valid and expired passports. The entrepreneur must transfer the documents to a trusted person who will be hired by his lawyers. This person will accompany the former head of Binance on all trips where a passport may be required.
In addition, Changpeng Zhao cannot issue new documents without court permission. He is also obliged to notify the relevant services of his movements.
Earlier it became known that the date of sentencing in the CZ case was postponed to April 30, 2024. The court hearing was supposed to take place at the end of last month, but it was postponed for unknown reasons. Zhao's lawyers declined to comment on the information.
