Binance’s CZ Pardon: No Quid Pro Quo, Compliance Cleared
Teresa Goody Guillén, Binance CEO Changpeng Zhao’s personal lawyer, clarified that the CZ pardon addressed only alleged anti-money laundering (AML) and compliance lapses, not criminal wrongdoing. She detailed the multi-step review by the Department of Justice, Office of the Pardon Attorney and White House Counsel, and dismissed any quid pro quo or crypto favors narrative. Guillén noted that Binance’s USD1 stablecoin operates across multiple chains, refuting claims of Trump-linked stablecoin ties. She added that following the CZ pardon, Zhao will not resume day-to-day management due to ongoing oversight by the DOJ, CFTC, FinCEN and OFAC. US market access for Binance remains restricted, affecting liquidity and exchange operations. Guillén said the CZ pardon highlights regulatory debates over AML compliance and broader crypto policy under changing administrations.
Neutral
The CZ pardon removes a significant legal overhang for Binance’s founder but stops short of restoring full operational rights, as ongoing AML and compliance oversight by key US regulators continues. In the short term, this clarity may reduce uncertainty, yet remaining restrictions on US market access will likely limit trading volumes and liquidity. Long-term, the pardon underscores shifting crypto regulation and could prompt policy-driven volatility but is unlikely to drastically alter Binance’s token value without broader changes in market access or regulatory stance.