Binance is once again in Washington’s crosshairs. A group of Democratic senators, led by Elizabeth Warren, is demanding that the Justice Department explain whether the world’s largest crypto exchange is truly living up to the promises it made in last year’s historic settlement.
The $4.3 billion deal that Binance struck in 2023 ended criminal charges tied to money laundering and sanctions breaches, but it also came with ongoing obligations. Warren, joined by Senators Mazie Hirono and Richard Blumenthal, argues that prosecutors have only confirmed the obvious — that the fines have been paid — without addressing whether the tougher compliance reforms are actually being enforced.
Their letter accuses the department of dodging direct questions: “The DOJ has not confirmed whether Binance is meeting its ongoing requirements.”
At the center of the debate is the court-appointed compliance monitor installed as part of the agreement. Prosecutors are reportedly weighing whether to remove the monitor, a move that would significantly ease scrutiny of the exchange. For Warren and her colleagues, that possibility raises alarms about accountability in one of the largest enforcement actions ever brought against a crypto company.
Political and Regulatory Undercurrents
The senators also pressed for details about Binance’s ties to Trump-era officials and its links to World Liberty Financial, underscoring unease about how political connections may have influenced the company’s standing in Washington.
Although Binance’s settlement brought closure to criminal charges, it did not mark the end of its oversight. Founder Changpeng Zhao served a four-month prison term and was released in 2024; earlier this year, he petitioned for a presidential pardon.
The renewed congressional pressure shows that crypto regulation remains a live issue even after President Donald Trump signed the GENIUS Act into law. For Warren and her allies, the key question is whether billion-dollar fines are enough to change behavior — or whether ongoing vigilance is the only way to keep the industry in check.
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Source: https://coindoo.com/senators-push-doj-to-prove-binance-is-following-through-on-4-3b-settlement/