Binance founder CZ’s presidential pardon is not an acquittal

The recent presidential pardon granted to Binance co-founder Changpeng “CZ” Zhou is not an acquittal; it is executive forgiveness that confirms guilt and leaves the criminal record and underlying wrongdoings in place, as only a judge can overturn a conviction. By seeking a pardon instead of pursuing an appeal for vacatur, CZ’s legal team may have made a strategic error, cementing his status as a federal convict. This cemented record of conviction, supported by evidence from the CFTC regarding willful omission of KYC/AML controls and sanction evasion, makes it easier for prospective civil litigants to pursue claims, as they no longer need to prove the elements of criminal liability. This exposure extends to victims of terrorism, cyber scams, and others harmed by illicit market misconduct, as the pardon negates the grounds for appeal while opening avenues for tortious liability claims. Furthermore, a US presidential pardon has no legal effect outside the US, meaning CZ could still face prosecution in other jurisdictions.

(Source：Cointelegraph)