Binance executives reportedly met with Treasury Department officials in March in an effort to reduce federal oversight of the crypto exchange, according to sources cited by the Wall Street Journal.
The company is said to have requested the removal—or at least the scaling back—of a compliance monitor assigned after Binance admitted to serious regulatory violations.
Following a guilty plea involving unlicensed money transmission, sanctions breaches, and anti-money laundering failures, U.S. authorities installed monitors to oversee Binance’s operations.
While one of those monitors remains in place, Binance leadership claims the arrangement is creating costly inefficiencies. During the recent meeting, CEO Richard Teng and Chief Legal Officer Eleanor Hughes requested that the monitorship be shortened or eliminated altogether.
The push reportedly comes as Binance holds a more optimistic view under the Trump administration, believing that the new political landscape may favor their appeal.
The WSJ also reports that this meeting followed earlier conversations between Binance and World Liberty Financial—a crypto venture backed by members of the Trump family. Those discussions focused on listing the group’s USD1 stablecoin, a dollar-pegged token that aims to become globally accessible.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/binance-pushes-to-ease-u-s-oversight-eyes-stablecoin-deal-backed-by-trump-allies/