White House Press Secretary Karoline Leavitt confirmed in a statement the information that, this Wednesday, October 22, Trump granted a legal pardon to Changpeng Zhao, founder of Binance. Zhao was prosecuted during the Joe Biden administration in what the current administration calls “a war on cryptocurrencies.” The secretariat added: “The Biden administration’s war on cryptocurrencies is over.”
Chanpeng Zhao He was processed in November 2023 for “violating the BSA by causing Binance to fail to implement an effective anti-money laundering program.” The textual quote comes from the US Department of Justice Criminal Division website.
According to the Federal Deposit Insurance Corporation (FDIC), “BSA is the common name for a series of laws and regulations enacted in the United States to combat money laundering and the financing of terrorism.”
Analysts from the Wall Street Journal are of the opinion that the pardon granted to the founder of Binance It will pave the way for the exchange to return to the United States. Binance limited the provision of services to users in the United States since September 2019.