Overview

• Prosecutors are considering removing the three-year monitor imposed in 2023 as part of Binance’s $4.3 billion plea deal, according to multiple reports.
• The discussions are described as advanced and confidential, with no final decision announced by the Justice Department.
• Forensic Risk Alliance serves as the DOJ-appointed monitor, while a distinct Treasury/FinCEN monitorship led by Sullivan & Cromwell remains in place.
• DOJ Criminal Division head Matthew Galeotti issued guidance questioning mandatory monitors, and prosecutors have already ended monitorships for several companies in favor of enhanced reporting.
• Any relief would likely hinge on stronger compliance reporting by Binance, which has highlighted expanded efforts including roughly $200 million spent on compliance in 2024 and a new seven-person board.