Binance compliance monitor removal is reportedly under review as Binance negotiates to end the DOJ-imposed monitorship after ramping up compliance reporting; no final decision is confirmed and any change depends on regulator approval and verified remediation steps.
Binance compliance monitor removal: Latest update on DOJ monitorship, FRA role, and next steps — read how this affects Binance compliance and operations now.
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What is the current status of the Binance compliance monitor?
The Binance compliance monitor is reportedly being reviewed for possible removal after the exchange increased its compliance reporting to U.S. authorities. Bloomberg reported that discussions are ongoing, but no final regulatory decision has been made as of this update.
How long was the monitorship supposed to last?
The monitorship originated from a 2023 plea agreement tied to anti-money laundering (AML) and sanctions violations. It was structured as a three-year oversight period beginning in 2024, intended to ensure Binance implements and sustains robust compliance controls.
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Forensic Risk Alliance (FRA), an international forensic accounting consultancy, was appointed by the U.S. Department of Justice to act as the independent monitor. FRA’s mandate includes reviewing internal records, evaluating compliance policies, and recommending remedial actions.
Removal depends on verified remediation. Regulators will require documented evidence of persistent, effective controls. The monitor must be satisfied that compliance reporting and internal safeguards meet DOJ expectations before any change is approved.
Ending the monitorship would reduce external oversight but would not remove regulatory obligations. Binance must continue AML and sanctions compliance to avoid further enforcement actions.
The monitorship followed a 2023 plea deal addressing AML and sanctions breaches. The DOJ required independent oversight as part of the settlement to ensure sustained corrective measures.
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