Binance Eyes US Return Through Trump Ties Amid Legal Challenges"Binance preps US comeback, courts Trump for help: report

 Binance Eyes US Return Through Trump Ties Amid Legal Challenges

Binance the world’s largest cryptocurrency exchange is laying the groundwork for a potential return to the United States. The move is reportedly fueled by growing connections with the Trump family as the company seeks to overcome its recent regulatory hurdles.

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According to a report by the Wall Street Journal Binance executives recently met with officials from the US Treasury Department. During the meeting the company requested the removal or easing of a federal monitorship that has been overseeing its compliance with anti-money laundering laws. This arrangement was part of a 2023 settlement in which Binance pleaded guilty and agreed to pay a record 4.3 billion dollar fine.

While Canada also imposed a penalty on Binance it was significantly lower totaling just 4.3 million dollars.

At the same time Binance is exploring a potential partnership with World Liberty Financial a decentralized finance venture inspired by former President Donald Trump. WLFI plans to launch a dollar-pegged stablecoin named USD1. Listing this token on Binance could bring substantial financial gains to the Trump family who reportedly hold a majority stake of over 60 percent in the project.

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The partnership between Binance and the Trump family appears to have begun during a private gathering in Abu Dhabi last December. Binance founder Changpeng Zhao reportedly met with Eric Trump and real estate developer Steve Witkoff a cofounder of WLFI.

This emerging alliance could serve both parties strategically. For Binance it may mean the possibility of relaxed oversight and even a presidential pardon for Zhao who served four months in prison for violating US anti-money laundering and sanctions regulations. For the Trumps Binance’s global platform with 250 million users and 65 billion dollars in daily trading volume presents an opportunity to scale their crypto ambitions.

The Trump administration has already taken steps that appear favorable to the crypto sector. These include disbanding the Department of Justice’s crypto enforcement unit which previously played a key role in investigating Binance.

Reports suggest that Trump representatives are also considering acquiring a stake in Binance.US the struggling American affiliate of the global exchange. Such a move would further solidify ties between the former president and the embattled crypto firm.

This evolving situation highlights the shifting dynamics in the US regulatory environment as the crypto industry sees increased alignment with political power players. It also raises concerns about the intersection of enforcement history and current policy as high-profile figures once targeted by regulators now appear poised to influence the future of digital finance in Washington.

As of now Binance has not publicly commented on these developments and WLFI has yet to issue a formal response. The crypto community remains watchful as Binance’s US ambitions take shape amid one of the most politically charged comebacks in the sector’s history.