As a condition of Binance's plea agreement, it must undergo monitorship to ensure compliance for the next three years.
The United States Department of Justice has reportedly appointed international consultancy firm Forensic Risk Alliance to ensure cryptocurrency exchange Binance complies with regulatory requirements over the next three years, according to sources familiar with the matter.and other federal charges, along with a $4.3 billion fine, appointing a third-party law firm to monitor the exchange’s compliance over the next three-years was a key requirement.
FRA will have access to internal records, premises, and employees to provide the government with updates on the company's activities, according to a May 10 BloombergLaw firm Sullivan and Cromwell were reportedly initially first in line for the contract, but the firm's prior work for rival cryp exchange FTX before its bankruptcy led the government to choose a different direction.“S&C knew of FTX US and FTX Trading Ltd.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DOJ taps FRA for Binance's three year monitorship: reportBinance must undergo a three-year monitorship, now with FRA, as part of its plea deal with the DOJ related to illicit financial activity.
Read more »
Binance claps back at WSJ report, affirms strict market surveillance programBinance Exchange is in the headlines again following revelations by insiders that the trading platform had punished an employee after he flagged an incident of market manipulation at its client DWF Labs, according to a Wall Street Journal report.
Read more »
DWF Labs denies report that it did $300 million of wash trading on Binance last yearTrading and market-making firm DWF Labs has denied reports that it engaged in $300 million of wash trading on Binance in 2023.
Read more »
Binance exec will remain in Nigerian custody until May 17 bail hearing: ReportTigran Gambaryan’s bail hearing has reportedly been delayed again, ensuring the Binance executive remains in Nigerian custody until at least May 17.
Read more »
Binance Exec's Wife Denies Extradition Report; Thailand Tightens Crypto Regulation'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including the latest update on the Binance saga as its executive Nadeem Anjarwalla has been located in Kenya after escaping from Nigeria.
Read more »
Binance Exec's Wife Denies Report of Extradition to NigeriaSandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.
Read more »