"🔍 Forensic Risk Alliance (FRA) has been appointed as an external monitor of Binance after pleading guilty to violating US anti-money laundering regulations. Binance agreed to pay a fine of $4.3 billion. Binance founder, Changpeng Zhao, admitted guilt and agreed to step down as CEO.

The FRA will monitor Binance's compliance with the terms of the agreement by gaining access to internal records, facilities and employees for reporting to the government.

Although not selected as an external monitor, Sullivan & Cromwell is expected to receive a separate five-year oversight of Binance on behalf of the Treasury Department's Financial Crimes Enforcement Network.

📣 What do you think about this? Share your opinion in the comments!"