Why Changpeng Zhao’s Cleared Record Could Reshape Global Crypto Policy

Donald Trump, on October 23, 2025, approved a full presidential pardon to Changpeng Zhao, founder of Binance. Binance is the world’s major cryptocurrency exchange. Zhao had pleaded guilty in the month of November 2023 because of violating the U.S Bank Secrecy Act by means of failing to preserve an effective anti-money-laundering program at Binance.

As a part of the clearance, Binance decided to pay around USD 4.3 bn. Zhao served four months in federal prison in 2024 and has personally paid USD 50 million. 

Implications for the Crypto Industry

The pardon removes Zhao’s conviction and reestablishes his full civil rights, which therefore could affect his ability to lead new ventures or particularly get back to Binance. The White House outlined the decision as part of a “reset” in relations with the digital-asset sector, saying the prior administration’s approach had damaged the U.S innovation.

The declaration prompted a rally in cryptocurrency markets, as investors interpreted it as a signal of a more favourable U.S move on the way to the business of crypto. 

Questions of Oversight and Enforcement

In spite of the pardon, officials emphasised that Binance along with Zhao allowed transactions, previously. This has evaded U.S sanctions and AML controls, allegations were made when the settlement was stretched. Most of the critics argue the pardon may weaken responsibility for the failure in financial compliance and the markets of crypto.

However, most of the supporters say that it will further unlock the door for the leadership of United States in blockchain and Web3 technology.  

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