The White House reportedly debating whether to pardon Binance founder and former CEO Changpeng “CZ” Zhao.
Proponents of the move argue Zhao got swept up in the Biden administration’s 2023 crypto crackdown, reports the New York Post.
Zhao pleaded guilty that November to one count of violating the Bank Secrecy Act by failing to enforce anti-money laundering controls while acting as the exchange’s CEO.
A pardon could clear Zhao’s felony record, easing barriers for regulated investments and lifting state restrictions on Binance’s U.S. arm.
Zhao reacted to Friday’s scoop on X: “Great news if true,” with four praying-hands emojis.
Neither the White House nor Zhao’s lawyer, Teresa Goody Guillen, has commented on the possible pardon.
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