Binance Nears Deal to Escape Compliance Monitor Imposed by DOJ

Binance Holdings Ltd., the world’s largest crypto exchange, is moving toward a potential deal with the US Justice Department that would allow it to drop a key oversight requirement in its $4.3 billion settlement of allegations that it didn’t do enough to prevent money laundering, according to people familiar with the matter.

Federal prosecutors are in discussions with Binance over a requirement to maintain an outside compliance monitor, said the people, who asked not to be identified because the talks are confidential. The shift would mark the latest in a softening approach to the use of independent oversight that has seen the DOJ eliminate several monitors that had been appointed by the Biden administration.