Binance on the brink of resolving a $4.3 billion settlement with the Department of Justice, allegedly, ends the court-ordered monitor involvement, according to reports.
In a significant development, cryptocurrency exchange Binance is currently in negotiations with the U.S. Department of Justice (DOJ) to potentially terminate a three-year independent compliance monitor imposed as part of a settlement with regulators. If the DOJ agrees to the terms, it would mark a reduction in the extended regulatory oversight that Binance has been under since the settlement. The settlement was a result of Binance admitting to violations of anti-money laundering laws, the Bank Secrecy Act, and regulatory failures. Part of the settlement included a requirement for Binance to undergo three years of independent monitoring by Forensic Risk Alliance, a firm tasked with evaluating Binance's compliance protocols and reporting directly to the DOJ. The current leadership at Binance, following the stepdown of Changpeng 'CZ' Zhao, has not been officially named as of September 2025. Speculation exists about CZ's possible return, but no official successor has been confirmed. Interestingly, CZ recently updated his Twitter profile, changing his bio from 'ex-@binance' to simply '@binance'. It's important to note that Binance is still subject to a separate compliance monitor from the Treasury Department. The negotiations come after Binance agreed to a $4.3 billion settlement with the DOJ in November 2023. The potential development has led to a surge in Binance's native token, BNB. The cryptocurrency reached an all-time high of $958.66 following the announcement. This story is an excerpt from the Unchained Daily newsletter. As always, stay tuned for more updates on this evolving story.
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