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Outcome of Binance's first year compliance review
5
Resolution / Starting Odds
Full compliance • 33%
Minor violations • 33%
Major violations • 34%
Public release or announcement from the DOJ or FRA summarizing the compliance review findings
Story
DOJ Appoints FRA Over Sullivan & Cromwell as Binance's Monitor for Three Years
May 10, 2024, 07:15 PM
The U.S. Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA) over elite Wall Street law firm Sullivan & Cromwell as the external compliance monitor for Binance, a major cryptocurrency exchange. This decision comes after Binance pleaded guilty to violations of U.S. money-laundering regulations and trade sanctions. FRA will oversee Binance's adherence to the plea agreement over a three-year period, gaining access to the company's internal records, facilities, and employees to ensure compliance.
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New regulations imposed • 25%
Public warning issued • 25%
Investigation launched • 25%
No action taken • 25%
Significant improvement • 33%
Moderate improvement • 33%
No improvement • 34%
Increased Regulations • 33%
No Change in Regulations • 34%
Regulatory Bans • 33%
No further action taken • 33%
Additional firings in the surveillance team • 33%
Restructuring of the surveillance department • 34%
Increased scrutiny and fines • 33%
No further actions • 33%
Binance secures favorable regulatory status • 34%
Appeal successful • 33%
Appeal partially successful • 33%
Appeal unsuccessful • 34%
Increased scrutiny • 33%
No change • 33%
Decreased scrutiny • 34%
Significant reduction in operations • 33%
Minor adjustments to operations • 33%
No change in operations • 34%
Significantly Lower Confidence • 25%
Slightly Lower Confidence • 25%
No Change in Confidence • 25%
Increase in Confidence • 25%
Compliance • 25%
Non-compliance • 25%
Legal challenge • 25%
Operational adjustments • 25%