Binance founder Changpeng ‘CZ’ Zhao remains trapped in the US pending sentencing.

Binance founder and former CEO Changpeng Zhao (CZ) cannot return to the United Arab Emirates until he is sentenced, a federal judge ruled Thursday night.

Zhao, who pleaded guilty last month to charges of violating the Bank Secrecy Act, is scheduled for February 2024. He was released on a $175,000 personal recognizance bond, with some cash placed in escrow and a surety bond of approximately $5. Offering $1 million worth of assets as collateral. Zhao’s bail originally would have allowed him to return to the UAE, where he, his children and his partner all live, but prosecutors argued he was a flight risk and should not be allowed to leave the United States.

District Judge Richard Jones of the U.S. District Court for the Western District of Washington agreed with the Justice Department.

“Defendant has clearly justified the denial of the government’s motion in most cases,” the judge wrote. “However, a significant feature of the government’s application is the defendant’s enormous wealth and the absence of an extradition treaty with the UAE. Additionally, the defendant’s family resides in the UAE and there is no indication that the defendant has any other ties to the UAE or the United States. The defendant has a lower “Although we have indicated that we will seek a lesser sentence, the government has indicated that it may seek up to 18 months in prison. As a result, the defendant will not receive a lighter sentence.”

Zhao could potentially face up to 18 months in prison, but could serve as little as 10 months, the judge noted.

Zhao stepped down from Binance last month after the global cryptocurrency exchange pleaded guilty to violating anti-money laundering and fund transfer regulations. Binance agreed to pay a $4.3 billion fine as part of its own plea.