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Reported by Cointelegraph, Binance compliance commitments with the United States Department of Justice (DOJ) were unsealed on Dec. 8, revealing a significant government oversight of the crypto exchange operation and business activities.
Binance’s new obligations are described in an 11-page document and include cooperation to grant authorities access to documents, records and resources at their request, including access to information related to its “former employees, agents, intermediaries, consultants, representatives, distributors, licenses, contractors, suppliers, and joint venture partners”.
Several sections of the DOJ’s criminal division will closely monitor the exchange’s activities, including the section for money laundering and asset recovery, the section for national security, the section for counterintelligence and export control, and the office for the Western District of Washington’s United States Attorney.
Previously disclosed, Binance’s plea deal with the U.S. government also includes five years of oversight by the Financial Crimes Enforcement Network (FinCEN).

Binance Needs to Grant U.S. Authorities Access to All Documents and Records Under New Compliance Obligation

TokenInsight

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