The sentencing hearing for Zhao Changpeng will begin at 12:00 AM on May 1

ChainCatcher news, according to a report by Reuters, former CEO of the cryptocurrency exchange Binance, Changpeng Zhao, may face several years in prison when he is sentenced on Tuesday after pleading guilty to violating U.S. money laundering laws. U.S. prosecutors have informed Seattle District Judge Richard Jones that they are seeking a sentence for Zhao that is double the recommended maximum of 18 months under federal guidelines. Prosecutors stated that imposing a severe penalty on someone once considered the most influential figure in the cryptocurrency industry would send a message that "the right choice every time is to obey the law."

The hearing began at 9 a.m. Pacific Daylight Time on Tuesday (May 1, 12:00 a.m. Beijing time). Robert Fisher, a partner at Boston's Nixon Peabody law firm and former federal prosecutor, expressed surprise at the prosecutors' request for a harsh sentence after Zhao's guilty plea, but suggested they might be trying to set an example due to Zhao's high profile. He said, "Requesting a sentence that exceeds the sentencing guidelines is unusual, and they hope this will serve as a deterrent." Zhao's lawyers requested probation, arguing that Zhao has "unwaveringly" accepted responsibility and has already paid a $50 million criminal fine. They also noted that Zhao has never committed a crime before, and no defendants in similar cases have been imprisoned.