US DOJ Chooses Forensic Risk Alliance to Monitor Binance Following Guilty Plea
Saturday, 11 May 2024, 00:30
Binance Compliance Oversight by Forensic Risk Alliance
The US Department of Justice has selected Forensic Risk Alliance (FRA) to monitor Binance following its guilty plea to violations. This appointment ensures strict adherence to compliance regulations with direct reporting to the government.
Appointment Background and Responsibilities
- FRA will have extensive access to Binance's internal operations to verify compliance
- Founder's guilty plea and resignation lead to significant penalties and legal actions
- Contrast between FRA and Sullivan & Cromwell for the monitoring role
Key Point: The appointment signifies a crucial step for Binance's regulatory compliance and oversight.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.