Crypto Shenanigans: Binance’s Bold Bid to Ditch the Watchful Eye! 🤑

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In a plot twist that could only be described as “Oh, look, a squirrel!” Binance executives, those brave souls of the digital currency realm, decided to have a chinwag with the Treasury Department officials back in March. Their aim? To discuss the delightful prospect of easing the US government’s regulatory scrutiny on the world’s largest crypto exchange. Because who doesn’t love a good regulatory rollercoaster? 🎢

According to the Wall Street Journal, which is apparently the go-to oracle for all things crypto, Binance is keen on persuading the Treasury to remove one of the two monitors keeping a watchful eye on their operations. You know, those lovely folks who make sure everything is above board and not just a game of Monopoly gone wrong.

Now, the US government has been watching Binance like a hawk with a particularly keen interest in shiny objects, especially after the exchange admitted to some rather naughty behavior involving anti-money laundering (AML), unlicensed money transmitting, and a few sanctions violations. Oops! 😬

In a classic case of “it’s not you, it’s me,” a spokesperson for Binance claimed that these monitors have turned into “inefficient and costly burdens.” Because, of course, who wouldn’t want to run a multi-billion dollar operation without a few pesky rules getting in the way?

During last month’s tête-à-tête, Binance’s chief executive, Richard Teng, and Chief Legal Officer, Eleanor Hughes, made their case to the Treasury officials, asking them to either remove the monitorship entirely or at least reduce its duration and scope. Because why not aim for the stars when you can just ask for the moon? 🌙

Rumor has it that Binance’s executives are feeling rather optimistic that the Trump administration will give their request a big thumbs up. After all, who doesn’t love a good old-fashioned regulatory free-for-all?

And as if that wasn’t enough, the meeting also coincided with discussions between Binance and representatives from the Trump family-backed crypto venture, World Liberty Financial, about listing their dollar-pegged stablecoin, USD1, on the trading platform. Because nothing says “accessible for millions globally” quite like a stablecoin named after a dollar that may or may not exist in the same universe as actual dollars. 💸

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2025-04-13 20:01