Binance Proposes Reduced Oversight Amidst Legal Challenges & Ties to Trump

Binance executives are attempting to lessen government oversight while navigating legal battles and potential ties to a Trump-backed crypto firm. They met with US Treasury officials to discuss reducing regulation, potentially including a partnership with World Liberty Financial (WLF), according to a report from the Wall Street Journal. Binance CEO Richard Teng and Chief Legal Officer Eleanor Hughes requested either ending or reducing the scope of existing government oversight, particularly regarding anti-money laundering compliance. The company is also exploring listing a new dollar-pegged cryptocurrency from WLF.