The Department of Justice has stated that Changpeng Zhao must remain in the United States until he is sentenced and it disagrees with the choice to allow Zhao to visit the United Arab Emirates

The former CEO of Binance, Changpeng Zhao, has admitted to breaking US anti-money laundering laws and is currently embroiled in a contentious legal battle with the DOJ.

According to Coindesk, the DOJ has expressed opposition to Zhao's planned departure from the country, even though it is not requesting Zhao's immediate detention. The Justice Department has classified him as a "manageable flight risk". Zhao voluntarily appeared in court, arguing that his attendance demonstrated his intention to stay and not flee, but this opinion is still held.

The legal team representing Changpeng Zhao has highlighted the man's voluntary surrender, desire to resolve the matter, and offer of a sizeable bail sum. US prosecutors counter that he might flee to the United Arab Emirates, where he is a naturalized citizen and where there is no extradition agreement with the US, due to the seriousness of the possible penalty.

The upcoming prison sentence may be as short as 18 months or as long as the statutory maximum of 10 years. Zhao acknowledged his guilt for breaking money laundering rules and announced his resignation as CEO of Binance.

Concurrently, Binance consented to a substantial $4.3 billion fine and acknowledged responsibility for a number of criminal and civil allegations. Furthermore, Zhao signed a significant $175 million bond arrangement subsequent to acknowledging that he had violated the Bank Secrecy Act, according to Reuters. US prosecutors speculate that he would choose to live in the United Arab Emirates with his family instead of being imprisoned in the US.

Following Zhao's admission of guilt, Binance and the DOJ came to an arrangement for Binance to leave the US market and name a new CEO. Binance's Bitcoin holdings significantly decreased during this legal turbulence.