Table of Contents
Binance Met with US Treasury to Discuss Oversight and Trump-Linked Crypto Venture
Executives Sought Loosening of Oversight
Executives from Binance, the world’s largest cryptocurrency exchange, met with officials from the U.S. Treasury Department last month to request changes to the federal oversight imposed on the company. During the meeting, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes asked for either the removal or reduction in the duration and scope of a U.S. monitorship overseeing the company’s compliance with anti-money laundering laws.
Background: Binance’s Legal Troubles
The meeting followed Binance’s high-profile legal settlement in November 2023. As part of a $4.3 billion deal with U.S. authorities, Binance founder Changpeng Zhao pleaded guilty to violating anti-money laundering regulations and stepped down as CEO. A key component of the settlement included the appointment of a U.S. monitor to oversee the exchange’s compliance efforts.
Discussions on Partnership with Trump-Affiliated Venture
In addition to regulatory issues, Binance has reportedly been in discussions with World Liberty Financial, a cryptocurrency venture linked to former U.S. President Donald Trump. Talks have included the possibility of listing a new dollar-pegged cryptocurrency from the venture on Binance’s platform.
Reports of a Presidential Pardon Push
Separate reporting has indicated that Binance’s former CEO, Changpeng Zhao, has been actively seeking a presidential pardon from the Trump campaign. This effort underscores ongoing attempts by Zhao to resolve the legal consequences from the U.S. settlement.
No Official Responses Yet
As of now, Binance, the U.S. Treasury Department, and World Liberty Financial have not responded to requests for comment regarding the reported meeting and business discussions.
“Binance Met with US Treasury to Discuss Oversight and Trump-Linked Crypto Venture” “Binance Met with US Treasury to Discuss Oversight and Trump-Linked Crypto Venture”