The crypto giant, founded by Canadian Changpeng Zhao, is in talks with the U.S. Department of Justice (DOJ) about dropping a requirement that an independent monitor oversee its compliance with anti-money laundering and other laws. The DOJ imposed the requirement as part of a 2023 settlement that saw Zhao step down as CEO and plead guilty to failing to implement effective money-laundering controls. (Bloomberg)
Skip to content
The crypto giant, founded by Canadian Changpeng Zhao, is in talks with the U.S. Department of Justice (DOJ) about dropping a requirement that an independent monitor oversee its compliance with anti-money laundering and other laws. The DOJ imposed the requirement as part of a 2023 settlement that saw Zhao step down as CEO and plead guilty to failing to implement effective money-laundering controls. (Bloomberg)
Talking point: The DOJ has been moving away from independent oversight requirements under President Donald Trump, removing them from U.K. lender NatWest Group and shipbuilder Austal and announcing plans to end monitors at two units of miner Glencore. Zhao is seeking a presidential pardon from Trump, and Binance promoted and wrote the code behind USD1, a digital asset pegged to the value of the U.S. dollar launched by the Trump family’s crypto venture, World Liberty Financial, Bloomberg reported. On Wednesday Zhao changed his X bio to read “Binance” rather than “ex-Binance,” prompting speculation he could return to the company.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Exclusive
Alberta is bringing in rules to block frivolous data-centre proposals
Briefing
Bidding opens for a Canadian city to host new international defence bank headquarters
Microsoft slowly restores services after massive Exchange Online outage
BMO tells U.S. clients to confirm they’ve cut off AI agents’ access
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
