Pending a motion for review filed by the U.S. government, the former Binance CEO will not be allowed to return to his home in the United Arab Emirates as he awaits sentencing.
The agreement was made in a memorandum of understanding, but SBI Holdings must first register as an electronic payment instruments service provider in the country.
Former Binance CEO Changpeng “CZ” Zhao has contested the U.S. Department of Justice’s assertions that he is a flight risk and may not return before his sentencing next year.
The EU’s Data Act could introduce “kill switch” requirements for smart contracts, raising questions about how decentralized projects would handle such a scenario.