According to the CEO Richard Teng, Binance founder Changpeng Zhao, aka CZ, is "banned for life" from managing the crypto exchange amid his pleas to the US. Changpeng Zhao cannot run any company due to the lifetime ban. Zhao was found guilty as he failed to implement an adequate money laundering program at Binance. The USD Department of Justice (DOJ) also imposed a USD 50 million acceptable and four-month term amid a legal settlement. According to a report by Cryptotimes, DOJ's settlement accused him of serious violations related to market manipulation and failure to follow the AML (anti-money laundering) laws. Earlier, it was reported that Changpeng Zhao could be banned for three years, but it has been revealed that he will be banned for a lifetime. Telegram CEO Pavel Durov Explains What Happened After He Was Arrested in Paris, Lists Reasons of Doubts Over French Authorities, EU.

US DOJ Announces ‘Lifetime Ban’ on Binance Founder CZ

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