Binance co-founder CZ is set to face sentencing in a U.S. court in Seattle today, April 30, after pleading guilty to violating the Bank Secrecy Act. The Department of Justice has recommended a three-year prison term for CZ following his guilty plea, which includes charges related to bypassing federal sanctions and money laundering laws, including some transactions for Hamas and Iran. The allegations against him describe a business model where Binance allowed users to start accounts with just an email address for cryptocurrency-only transactions. This case highlights significant regulatory scrutiny on cryptocurrency exchanges and their operations.