The U.S. Justice Department’s renewed investigation into Binance has sparked debate over whether the exchange’s past compliance monitorships were effective or not. The world’s largest cryptocurrency platform agreed to sweeping reforms and independent oversight in 2023 after a historic settlement, but now faces scrutiny over potential breaches of that agreement.
Experts are divided on whether Binance is back under investigation because of its past compliance failures or despite the oversight. One law professor noted that it could be both, highlighting the uncertainty surrounding the situation.
The Justice Department’s probe comes less than three years after Binance implemented its compliance reforms, raising questions about the effectiveness of such measures in the rapidly evolving cryptocurrency industry.