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Court Approves Transfer of Binance Money Laundering Case to Florida

A U.S. judge has granted Binance's request to move a money laundering lawsuit from Washington to Florida's Southern District.

This decision, made by Judge Barbara Rothstein, leverages the “first-to-file” rule to avoid duplicate cases.

The Washington lawsuit, filed in August 2024, parallels an earlier case from June 2023 in Florida, both accusing Binance of facilitating the laundering of stolen cryptocurrency.

While the cases have differences in their plaintiff classes, they both involve individuals claiming their crypto assets were misappropriated and funneled into Binance accounts.

Plaintiffs in Washington argued that their case brought new claims against former CEO Changpeng “CZ” Zhao and warned of delays from the transfer.

Despite these concerns, Judge Rothstein emphasized that consolidating the cases would enhance judicial efficiency.

The Florida case was previously ordered to arbitration in July 2024, and now both cases will proceed under Florida's jurisdiction.

In separate news, recent reports emerged questioning CZ's involvement in a potential plea agreement with the Department of Justice related to another crypto figure, which he denied.

Zhao, sentenced to four months in prison for Anti-Money Laundering violations, maintains significant wealth upon his release.

Furthermore, a Nigerian court has postponed a tax evasion case against Binance, highlighting the complexities of the company's legal battles globally.