Binance, the world’s largest cryptocurrency exchange, is reportedly seeking to ease its regulatory burdens in the U.S. while exploring new business opportunities with World Liberty Financial, a crypto venture tied to former President Donald Trump. According to a report by The Wall Street Journal, senior executives from Binance recently held private discussions with officials at the U.S. Treasury Department, aiming to negotiate changes to the terms of the company’s oversight.
During the meeting, Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes requested that the U.S. government either remove or significantly reduce the scope and duration of a court-appointed monitor tasked with supervising the company’s compliance with anti-money laundering laws. This monitor was put in place as part of the conditions in a high-profile settlement reached last year.
In November 2023, Binance’s founder, Changpeng Zhao, stepped down from his role as CEO and pleaded guilty to violating U.S. anti-money laundering laws. That admission was part of a $4.3 billion agreement with federal authorities, bringing to an end a lengthy investigation into the exchange’s compliance practices. The settlement included the imposition of stricter oversight by U.S. regulators—a condition Binance now appears to be pushing back against.
In parallel with these regulatory discussions, Binance is said to be exploring a business deal with World Liberty Financial. The company is reportedly in talks to list a new dollar-pegged stablecoin issued by the Trump-affiliated crypto firm. While the details of the token and its issuance remain scarce, the potential partnership suggests Binance is actively courting politically aligned projects within the United States.
Neither Binance, the Treasury Department, nor World Liberty Financial have issued public statements in response to these reported meetings and discussions. The lack of comment adds a layer of ambiguity to an already complex web of legal, financial, and political interests.
The developments come amid growing scrutiny of Binance’s global operations, especially in jurisdictions where regulators are tightening their grip on crypto firms. The company has faced mounting pressure not only from U.S. authorities but also from regulators in Europe and Asia. Against this backdrop, any move to reduce oversight in the United States could spark both political and legal backlash—particularly given the firm’s recent history and the high-profile nature of its founder’s legal troubles.
Last month, the Journal also reported that Zhao had been quietly seeking a pardon from the current U.S. administration, a move that raised eyebrows among lawmakers and industry observers alike.
While Binance continues to maintain its dominance in the crypto exchange space, its efforts to renegotiate the terms of its oversight—and its potential alliance with a politically charged crypto initiative—signal a strategic shift. Whether regulators will entertain the exchange’s requests remains uncertain, but the intersection of crypto, politics, and regulatory enforcement is clearly entering a new phase.
By Alejandro Silva Ramírez, Crypto Analyst & Columnist