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Binance France Takes Strategic Steps to Ensure Crypto Compliance in Wake of Founder's Sentencing

In the aftermath of former Binance Group CEO Changpeng Zhao's guilty plea to violating US banking laws, Binance France has made a calculated move to maintain its presence in the European market. According to a report by DLNews, the company has replaced Zhao with two new shareholders in the hopes of avoiding potential repercussions in the EU's second-largest economy. This decision comes after Zhao was sentenced to 4 months in prison and fined $150 million by US authorities, including the regulator CFTC. With regulatory scrutiny on the rise in the crypto world, Binance France's actions signal a commitment to compliance and adherence to laws and regulations.