Binance is reportedly in talks with the US Department of Justice (DOJ) to remove a key oversight measure from its 2023 settlement agreement — a change which, if approved, could ease regulatory and compliance pressures on the cryptocurrency exchange.
According to Bloomberg, which cited people familiar with the discussions, the DOJ is weighing whether to lift the requirement that Binance be overseen by an independent compliance monitor.
The monitor was imposed for a three-year period as part of a $4.3 billion settlement Binance reached with the DOJ in 2023, following allegations of multiple compliance failures, including insufficient safeguards against money laundering.
The 2023 DOJ settlement applied to Binance’s global operations, not its US affiliate, Binance.US, which operates as a separate legal entity.
Bloomberg also suggests this potential move is part of what appears to be an emerging DOJ trend toward reducing or ending external oversight in certain cases, although it is not yet clear how broadly that applies. Companies have often criticized the use of outside monitors, describing them as costly and disruptive.
While the DOJ review has not been confirmed, Bloomberg reported that at least three other companies have successfully avoided extended oversight by compliance monitors: mining giant Glencore Plc, as well as UK-based NatWest Group Plc and Australia’s Austal Ltd., which operate in banking and naval shipbuilding, respectively.
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Crypto companies eye regulatory clarity under pro-industry Trump administration
Binance’s reported bid to ease compliance obligations with the DOJ comes as the crypto industry embraces a wave of clearer, more industry-friendly regulation under US President Donald Trump.
The administration has advanced several major initiatives, including the signing of the GENIUS stablecoin act and the House of Representatives’ passage of both a market-structure bill and anti-CBDC legislation.
Regulators have also begun to clarify their approach to digital assets. Securities and Exchange Commission Chair Paul Atkins recently declared an end to “regulation through enforcement,” pledging clearer guidance on issues such as tokenization. The SEC has since clarified its stance on liquid staking tokens, determining that they mainly fall outside securities legislation.
Both the SEC and the Commodity Futures Trading Commission (CFTC) are moving to align with the administration’s broader digital-economy framework. That includes a recent CFTC announcement creating a pathway for foreign crypto exchanges to serve select US clients under the Foreign Board of Trade program.
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