CZ Says Bank of America Faced More Serious Violations Than Binance

CZ said Bank of America faced more serious violations than Binance but received a $1.2 billion fine and was not prosecuted, as he discussed his own U.S. case.

He characterized Binance’s conduct as registration-related violations, saying there was no fraud or victims and that users had been well protected. CZ also said he went to the United States voluntarily to plead guilty and pay a substantial fine because he did not want to flee or evade the issue.

CZ described serving time as unpleasant and a lesson. He said he had stopped dwelling on the matter and would focus on moving forward, learning from the experience and doing more positive things.