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Binance executives recently met with U.S. Treasury officials to discuss easing regulatory oversight and potentially collaborating with World Liberty Financial (WLF), a Trump-backed crypto company, according to a report from The Wall Street Journal.
During the closed-door meetings, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes reportedly urged officials to end or scale back the role of a court-appointed watchdog overseeing the exchange’s compliance with anti-money laundering laws. The watchdog had been imposed following Binance’s historic $4.3 billion settlement with U.S. authorities in 2023.
Binance is also in discussions to list a new dollar-pegged stablecoin issued by WLF, signaling a potential strategic pivot toward politically connected crypto ventures.
This development follows reports that former Binance CEO Changpeng “CZ” Zhao has been quietly lobbying for a presidential pardon. Zhao stepped down in November 2023 after pleading guilty to violating anti-money laundering laws. At the time, he also faced scrutiny for exploring business ties with members of the Trump family, including proposals to offer them a stake in Binance’s U.S. division.
Meanwhile, Binance’s legal battle with the Securities and Exchange Commission (SEC) has been paused for another 60 days. The SEC, which filed suit in 2023 accusing Binance of operating without proper registration, has acknowledged “productive talks” with the crypto giant. The case is now on hold until mid-June 2025.
In a parallel development, Acting SEC Chair Mark Uyeda has proposed a “sandbox rule” to allow crypto firms to innovate with regulatory flexibility while formal laws are being crafted. Uyeda also called for a unified federal framework, replacing the current patchwork of state regulations.
Also Read: Binance Lists BABY Token as Bitcoin-Secured Blockchain Goes Live
The incoming SEC Chair, Paul Atkins, is expected to carry forward this progressive approach, potentially reshaping how digital assets are governed in the U.S.
With Binance signaling closer alignment with political figures and regulators reevaluating oversight, the next chapter in crypto regulation could prove to be pivotal for the industry.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
