The U.S. Department of Justice (DOJ) has chosen the French company Financial Risk Alliance (FRA) over Sullivan & Cromwell to monitor Binance. This decision comes after Binance agreed to a plea deal involving a $4.3 billion fine and compliance requirements following violations of anti-money laundering laws and sanctions. FRA's task will include ensuring Binance's operational compliance and reporting back to the government, reflecting a strategic move towards utilizing firms with relevant regulatory experience.

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