The point being, no money laundering was pointed out to the court, although I sure this happened to some scale. Binance works with the police, before and after the conviction, it's not a laundromat like some Russian cryptocurrency exchanges.

But you are right the AML controls were weak, and CZ was convicted for this. KYC requirements arrived to Binance very late. But they were not convicted of fraud (like Sam Bankman-Fried from FTX). No users lost money. A lot of commenters get this wrong.

The US banks get slapped for similar compliance breaches all the time e.g.:

https://qz.com/bank-of-america-bofa-occ-bank-secrecy-act-bsa...