DOJ unveils extensive monitorship over Binance operations

Binance’s new compliance obligations include cooperation to grant U.S. authorities access to all documents, records and resources upon request.

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.

In an analysis shared on X (formerly Twitter), John Reed Stark, a former Securities and Exchange Commission (SEC) official, classified the “exhaustive list” of Binance’s new compliance commitments as a “consulting firm’s wish list” that will likely shut down the platform.

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," noted Stark.

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From Cointelegraph.com News https://cointelegraph.com/news/doj-unveils-extensive-monitorship-over-binance-operations