๐ DOJ selects FRA to monitor Binance after $4.3B penalty for legal violations.
๐ฅ FRA chosen over Sullivan & Cromwell due to latter's FTX involvement.
๐ Decision well-received by legal and crypto communities.
๐ FRA tasked with extensive oversight to ensure Binance compliance with U.S. regulations.
๐ผ Sullivan & Cromwell may still monitor Binance for transaction reporting rules.
๐ Binance facing penalties in India and Canada for anti-money laundering violations.
