Binance executives have been in talks with US officials

📌 Binance executives have been in talks with US officials to ease regulatory pressure: Report

Binance executives reportedly met with Treasury Department officials in March to discuss easing US authorities oversight of the worlds largest cryptocurrency exchange. Citing informed sources, the Wall Street Journal reports that Binance is seeking to have the Treasury Department remove one of the two supervisors overseeing the exchange. . Binance

– Binance executives reportedly met with Treasury Department officials in March to discuss easing US authorities’ oversight of the world’s largest cryptocurrency exchange. Citing informed sources, the Wall Street Journal reports that Binance is seeking to have the Treasury Department remove one of the two supervisors overseeing the exchange.

The U.S. government is taking a close interest in Binance after it pleaded guilty to AML violations, unlicensed money transfers and sanctions violations.

The Treasury Department has appointed a monitor to oversee Binance’s compliance with anti-money laundering laws, but a spokesperson for the exchange claims the surveillance has resulted in an inefficient and costly burden.

The article says that during a meeting last month, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes asked Treasury officials to cancel the monitoring or reduce its duration and scope.

Binance executives are said to be optimistic about the possibility of the Trump administration approving the request.

According to the WSJ, the meeting came after Binance and representatives of World Liberty Financial, a crypto venture backed by the Trump family, discussed the listing of USD1, a dollar-linked stablecoin, on the cryptocurrency trading platform.