Binance’s Zhao Must Stay in US Until Sentencing, Judge Orders

Binance Holdings Ltd. founder Changpeng Zhao can’t return to his home in the United Arab Emirates before he’s sentenced in the US for a felony crime, a federal judge in Seattle ruled.

US District Judge Richard Jones on Thursday rejected the billionaire’s request to return to the UAE following his guilty plea in November. The head of the world’s largest cryptocurrency exchange and his company admitted to failing to implement anti-money laundering policies and US sanctions violations as part of a broad agreement with prosecutors that allows the exchange to continue operating.

Changpeng Zhao exits federal court in Seattle, Washington, on Nov. 21.

Photographer: Chloe Collyer/Bloomberg

Zhao, who stepped down as Binance’s chief ...