News Summary

• Sen. Richard Blumenthal (D-Conn.) sent out letters on Friday asking for details on the status of two monitors assigned to oversee the world’s largest crypto exchange and its compliance operations.
• The U.S. government installed two monitors, who separately report to the DOJ and FinCEN, to ensure the exchange put in place appropriate measures to overhaul its compliance program.
• The monitorships, which began in 2024, were part of a larger plea deal in which Binance paid a $4.3 billion fine related to its failure to impose proper money-laundering and sanctions oversight.