Binance Faces Intensive Oversight: U.S. Prosecutors Propose Five-Year Monitoring

Binance Faces Intensive Oversight: U.S. Prosecutors Propose Five-Year Monitoring

U.S. legal authorities have mandated rigorous regulatory measures for the Binance cryptocurrency exchange, suggesting oversight for a duration of up to five years. This directive follows Binance's acknowledgment of its failure to comply with U.S. regulations against money laundering and adherence to sanctions, agreeing to a hefty fine potentially amounting to $4.3 billion.



Reported by Bloomberg, these oversight strategies were outlined in a sentencing document submitted to a Seattle federal court by the prosecutors. The aim is to guarantee Binance's compliance with legal norms and to set a precedent for regulatory adherence within the wider cryptocurrency industry. Highlighting the gravity of Binance's infractions, including transactions facilitated for entities such as Hamas, prosecutors are advocating for stringent consequences,


First found on: https://coinatory.com/cryptocurrency-news/binance-faces-intensive-oversight-u-s-prosecutors-propose-five-year-monitoring-17312/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP

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