Key Takeaways
- Binance is nearing a deal to end DOJ-imposed compliance monitor oversight.
- The external monitoring was part of regulatory requirements due to previous compliance issues.
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Binance is close to reaching an agreement that would end the compliance monitor oversight imposed by the Department of Justice, according to a new Bloomberg report.
The crypto exchange has been operating under DOJ supervision as part of regulatory compliance requirements. The potential deal would remove the external monitoring that has been overseeing Binance’s operations.
Binance previously faced regulatory scrutiny from US authorities over compliance and anti-money laundering practices. The exchange has been working to address regulatory concerns across multiple jurisdictions.
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