Elizabeth Warren Demands DOJ Verify Binance’s Compliance with 2023 Settlement Terms

Senator Warren turns up the heat on crypto's biggest exchange—again.

The Regulatory Spotlight

Warren's latest move pushes the Justice Department to confirm whether Binance has actually implemented the compliance measures promised in its landmark 2023 settlement. The senator isn't taking corporate promises at face value—she wants hard evidence of operational changes.

Compliance Under Scrutiny

The exchange's anti-money laundering protocols, transaction monitoring systems, and corporate governance all face renewed examination. Regulatory patience wears thin as watchdogs demand tangible proof rather than polished PR statements.

Washington's Growing Impatience

This isn't Warren's first rodeo with crypto compliance questions—but it might be her most direct challenge yet. The timing suggests regulators are losing tolerance for the industry's 'move fast and break things' approach to financial regulations.

Because nothing says 'trust us' like needing a US Senator to check if you've kept your promises to the Justice Department.

Senators demand proof Binance is being monitored

The letter spelled out four things they wanted the DOJ to answer. First, they asked what actual steps have been taken to keep Binance in full compliance with the terms it agreed to.

Second, they asked for an update on Binance’s planned withdrawal from the U.S. They wanted the timeline, what actions had already been taken, and when the company was expected to fully leave the country.

Third, they wanted to know if Binance had tried to bring up a possible pardon for former CEO Changpeng Zhao in conversations with the DOJ. And finally, they asked whether Binance ever brought up World Liberty Financial or its plans to list a new stablecoin with any DOJ officials.

That last part isn’t just a random curiosity. It ties back to the Trump family. Since May, Donald Trump and his family have reportedly deepened their financial links to Binance through their company, World Liberty Financial.

That connection is part of why the senators are pushing so hard for transparency. They’re not just asking about past violations; they’re looking at the current administration’s possible role in what Binance is doing now.

The DOJ replied on September 12, but Elizabeth said after repeating basic public facts about the 2023 plea agreement, the letter said that “Binance has paid all the penalties due to the Department.”

It then added that Binance “also has ongoing requirements under the terms of its plea agreement, including cooperating with the Department and remediation and enhancement of its compliance program.” But that’s where it stopped. It didn’t say whether Binance is meeting any of those obligations. It didn’t confirm if the DOJ is actively monitoring compliance. And it didn’t answer a single one of the four questions in any clear way.

New Binance deal raises questions about oversight

The timing of this DOJ silence is what makes it even more alarming. This same week, reports revealed that Binance is now in talks with the Justice Department to drop its outside compliance monitor.

That monitor was a core part of the $4.3 billion settlement deal from 2023, and was supposed to ensure that Binance didn’t slip back into its old ways. If that monitor gets removed, Binance WOULD basically be back to policing itself. For Elizabeth, that raises serious concerns.

“Since May, President Trump and his family have increased their financial ties to Binance,” the senators wrote, pointing directly to the relationship between World Liberty Financial and the crypto exchange.

They added that “just this week, news broke that Binance may be ‘moving toward a potential deal with the US Justice Department that would allow it to drop’ its outside compliance monitor, a ‘key oversight requirement in its $4.3 billion settlement.’”

The letter ended with one final request: that Pam Bondi give them real answers to all four questions by October 1, 2025.

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