Binance is negotiating with the U.S. Department of Justice to potentially remove key oversight requirements from its $4.3 billion settlement agreement
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Binance is negotiating with the U.S. Department of Justice to potentially remove key oversight requirements from its $4.3 billion settlement agreement
According to Bloomberg, Binance is negotiating with the U.S. Department of Justice to potentially remove key oversight requirements from its $4.3 billion settlement agreement. Sources familiar with the matter said federal prosecutors are discussing with Binance the requirement to maintain an external compliance monitor. Binance had previously faced allegations for allegedly doing too little to prevent money laundering. The Department of Justice has previously terminated monitoring arrangements for several companies due to high costs and operational impact.
Navigating Web3 tides with focused insightsTechFlow, September 17 — According to Bloomberg, Binance is negotiating with the U.S. Department of Justice to potentially remove key supervisory requirements from its $4.3 billion settlement agreement. Sources indicated that federal prosecutors are discussing with Binance the requirement to maintain an external compliance monitor. Binance had previously faced allegations for insufficient anti-money laundering measures. The Department of Justice has previously terminated monitoring arrangements for several companies due to high costs and operational impact.
