Binance founder Changpeng Zhao, also known as 'CZ', has received a pardon from U.S. President Donald Trump. The pardon comes after Zhao was convicted of money laundering violations and subsequently resigned and served jail time. The White House confirmed the pardon, citing the Biden Administration's aggressive stance on cryptocurrency.
The pardon is seen as a significant development in the crypto community, where regulations and enforcement have been tightening. Binance has faced scrutiny in recent months for its compliance with anti-money laundering laws. Zhao's conviction was part of a plea bargain that led to his resignation from Binance and jail time.