Binance Urges US Treasury for Softer Oversight, Eyes Trump-Linked Crypto
Executives from Binance met with U.S. Treasury officials in March to request easing regulatory scrutiny and to discuss a possible collaboration involving former President Donald Trump’s cryptocurrency initiative, World Liberty Financial, according to a report by The Wall Street Journal.
Citing individuals familiar with the meeting, the Journal reported on Friday that Binance, the world’s largest crypto exchange, appealed to U.S. authorities to end or scale back the role of a government-appointed monitor overseeing the company’s compliance with anti-money laundering regulations.
Additionally, Binance reportedly explored the option of listing a new stablecoin—tied to the U.S. dollar—developed by Trump-affiliated World Liberty Financial.
During the meeting, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes pushed for either eliminating the monitorship entirely or significantly reducing its scope and duration, the report said.
Neither Binance, the U.S. Treasury Department, nor World Liberty Financial have issued public comments in response to media inquiries.
The Journal also noted that Binance’s founder, Changpeng Zhao, had previously sought a pardon from the U.S. government. Zhao stepped down as CEO in November 2023 after pleading guilty to violating U.S. anti-money laundering laws. His resignation was part of a $4.3 billion settlement that concluded a lengthy federal investigation into the company.
