U.S. Senators including Elizabeth Warren, Mazie Hirono, Richard Blumenthal, Jeff Merkley, and others are intensifying scrutiny over the Trump administration’s interactions with Binance, the global cryptocurrency exchange. The lawmakers have formally requested documents and clear answers regarding recent meetings between Binance executives and officials from the Treasury Department and Department of Justice.
Their concerns revolve around Binance’s 2023 settlement: the company pled guilty to violations of U.S. money laundering laws, operating an unlicensed money transmitting business, and infringing U.S. sanctions rules. Part of that settlement required Binance to be overseen by outside, independent monitors tasked with ensuring compliance.
Senators are seeking transparency over several specific issues: whether Binance has complied with all its ongoing settlement obligations, whether there were attempts to relax or remove oversight (including dropping the independent compliance monitor), and whether former Binance CEO Changpeng Zhao has requested or is in line for a presidential pardon. They also want to know about Binance’s plans to exit the U.S. market and whether financial relationships involving President Trump and his family (through entities like World Liberty Financial) have played any role in influencing deals.
The Senate has demanded responses by October 1, 2025, to clarify these interactions and ensure that oversight and accountability remain intact in the enforcement of crypto regulations in the United States.
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