EddieJayonCrypto
14 Apr 25
Binance executives met with US Treasury officials to discuss easing regulatory scrutiny. The exchange seeks to remove one of the two monitors overseeing its operations. The government is monitoring Binance for AML violations. Binance's CEO and Chief Legal Officer asked to remove the monitorship or r...
Binance executives recently met with US Treasury officials to discuss easing regulatory scrutiny and potentially removing a compliance monitor. The exchange seeks to remove one of the two monitors overseeing its operations as the government monitors Binance for AML violations. Binance's CEO and Chief Legal Officer asked to remove the monitorship or reduce its duration and scope and are optimistic about the Trump administration's response. This meeting followed discussions to list World Liberty Financial's stablecoin on Binance, aiming to make it accessible globally.
The Wall Street Journal reported that Binance wants the Treasury Department to remove a monitor overseeing the exchange, which is under close scrutiny after pleading guilty to anti-money laundering, unlicensed money transmitting, and sanctions violations. Binance's spokesperson mentioned that monitors led to "inefficient and costly burdens." During the meeting, Binance's executives asked Treasury officials to remove the monitorship or reduce its duration and scope, expressing optimism about the Trump administration's response. This meeting occurred after discussions with World Liberty Financial to list USD1, a dollar-pegged stablecoin, on Binance, with the aim of making it accessible for millions globally.