Binance, the world’s leading cryptocurrency exchange, recently met with U.S. Treasury officials to advocate for a reduction in regulatory oversight. The company, facing sanctions stemming from past violations of legal requirements, requested the removal of one existing monitoring mechanism during this meeting. CEO Richard Teng and legal officer Eleanor Hughes pushed for shorter durations and broader scopes for these oversight procedures. Binance argues that these measures are adding unnecessary costs and inefficiency to its operations. This request comes amidst regulatory scrutiny as Binance continues to be monitored for money laundering, unlicensed money transfers, and sanctions violations. While the company seeks to lessen burden, recent developments like the launch of a stablecoin backed by World Liberty Financial, highlight continued concerns over the stability and potential for misuse within the sector.