In a surprising turn of events, the Trump administration is considering a pardon for Changpeng Zhao, the co-founder of Binance, who recently pleaded guilty to money laundering charges. This potential move reflects a broader shift in the administration's stance towards the cryptocurrency industry, as The source reports that such actions could signal a more favorable regulatory environment for digital assets in the future.
Weak Case Against Zhao
Sources close to the matter indicate that the case against Zhao was perceived as weak, with many arguing that it did not warrant felony charges or imprisonment. If the pardon is granted, it could pave the way for Zhao's return to Binance, where he continues to hold the position of largest shareholder.
Lenient Approach to Cryptocurrency Regulation
This development aligns with the Trump administration's increasingly lenient approach to cryptocurrency regulation, which has included a noticeable decrease in enforcement actions against crypto entities. Additionally, the administration has previously issued pardons to other figures in the crypto space, signaling a potential shift in policy that could benefit the industry as a whole.
In a related development, Ethereum has released an emergency reserve report addressing the recent decline of its USDe stablecoin. For more details, see the report.
