Binance
$9.1B
If successful, the decision would eliminate the need for an independent party to oversee the company’s compliance activities.
This requirement was introduced following a $4.3 billion deal Binance reached with the DOJ in 2023. That agreement followed accusations by US authorities that the company had weak systems to prevent financial crimes, such as money laundering.
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As part of the deal, a third-party monitor was assigned to review and report on Binance’s compliance improvements over a three-year period.
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The oversight applies to Binance’s international operations. It does not cover Binance.US, which is structured as a separate company and was not involved in the DOJ settlement.
Bloomberg, citing unnamed sources familiar with the situation, reported that the DOJ is currently reviewing Binance’s request.
In recent years, the DOJ has reconsidered how often it requires companies to undergo external monitoring. Some legal experts believe the department may be adopting a more flexible approach, particularly when companies demonstrate progress on their own.
The Bloomberg report also noted that other corporations have recently avoided or ended similar monitoring arrangements. Examples include Glencore, NatWest, and Austal. These companies reached outcomes with the DOJ that did not involve long-term oversight by external monitors.
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