Sources indicate that Binance, the well-known cryptocurrency trading platform, is engaged in discussions with the United States Department of Justice (DOJ) concerning the early termination of its mandated independent monitor. Bloomberg News reported this development, citing individuals familiar with the matter.
The report suggests that both parties are approaching a potential resolution, although the specifics of these ongoing negotiations remain confidential.
Binance initially agreed to compliance oversight in 2023 after acknowledging its role in facilitating money laundering and breaching sanctions regulations. As part of the agreement, the DOJ selected Forensic Risk Alliance, a consulting group, to supervise the company for three years. Simultaneously, FinCEN appointed a representative from Sullivan & Cromwell, a legal firm, to a five-year monitoring role. The exchange also faced a significant penalty, paying $4.3 billion in fines.
An internal communication from the US DOJ in April 2025 highlighted a shift in strategy, stating that the department “is not a regulator of digital assets.” Consequently, the DOJ signaled its intent to avoid legal actions aimed at establishing “regulatory frameworks” for cryptocurrencies. Instead, they will focus on prosecuting cases involving concrete damages and more demonstrable federal offenses, like acts of terrorism and cybercrimes.
Samson Enzer, a partner at Cahill Gordon & Reindel LLP, commented at the time that the DOJ’s policy update could result in the closure of certain investigations or the dismissal of specific charges.
On the back of this news, Binance’s own cryptocurrency, BNB, surged to an unprecedented peak of $962.08, as reported by CoinGecko. Currently, the digital currency is being traded at $955.69.
Adding to the market speculation, users on social media observed that Changpeng Zhao (CZ), the former CEO of Binance, modified his profile on X (formerly Twitter), changing his handle from ex-@binance to @binance. This subtle change ignited rumors about his potential return to the exchange.
Back in November 2023, CZ confessed to violating regulations related to sanctions and anti-money laundering. As part of the settlement, he paid a $50 million fine and resigned from his role as CEO.
On April 30, 2024, the court handed down a four-month prison sentence to Zhao. He was released ahead of schedule in September 2024.
In May 2025, CZ publicly acknowledged that he had submitted a formal request for clemency to former US President Donald Trump.
Zhao maintains that he has no intentions of reassuming the position of CEO at Binance. Prior to his release, the exchange had instituted a permanent ban prohibiting him from holding management roles. However, Zhao continues to be the largest individual shareholder in the platform.
A January report stated that Binance invested around $200 million in its compliance programs throughout 2024. The size of the compliance team expanded to 650 professionals, which facilitated regulatory approvals in 21 different global jurisdictions.
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