CZ: Voluntarily Pleaded Guilty in the US to Mitigate Impact on Binance Users and the Crypto Industry

According to Odaily, Binance co-founder Changpeng Zhao (CZ) stated in his new book "Binance Life" that in 2023, he voluntarily traveled to the United States and admitted to violating relevant provisions of the U.S. Bank Secrecy Act, primarily related to Binance providing services to U.S. users in its early stages without completing registration. CZ claimed that against the backdrop of tightening regulatory environment at the time, failing to make this decision could have brought greater uncertainty and potential shocks to Binance's operations, BNB holders, and industry development. CZ expressed that he chose to address the risks by personally assuming legal responsibility, aiming to reduce the impact on platform users and the overall cryptocurrency industry while ensuring the continued operation of the business.