Binance Nearing Deal to End DOJ Compliance Monitorship Early: Bloomberg
Binance is reportedly in talks with the U.S. Department of Justice to terminate its court-mandated compliance monitorship ahead of schedule, according to a Bloomberg report. The discussions come less than two years after Binance struck a $4.3B plea deal with U.S. authorities over money-laundering and sanctions violations.
What’s the Scoop?
- DOJ Monitorship May End Early: Binance was originally assigned a three-year independent monitor in 2023 as part of a criminal settlement. That monitorship officially began in May 2024, but could now be ending much sooner.
- Still Under FinCEN Oversight: It’s unclear from the report if Binance is also negotiating with the Treasury Department’s FinCEN, which imposed its own five-year monitorship via Sullivan & Cromwell—the first time the agency has ever done so in an enforcement action.
- Costly Compliance Overhaul: Since CEO Richard Teng took over following Changpeng Zhao’s resignation, Binance has reportedly spent over $200 million to shore up compliance in 2024 alone.
Bankless Take:
Binance, a monolith among crypto exchanges, has seen trading volume dominance across both spot and futures markets fall into decline since its May 2024 settlement with the DoJ. Will the end of oversight turn the tides?
Binance is moving toward a potential deal with the US Justice Department that would allow it to drop a key oversight requirement in its $4.3 billion settlement of allegations that it didn’t do enough to prevent money laundering https://t.co/NDVlt0dKnU
— Bloomberg (@business) September 16, 2025