report <\/a>by Bloomberg, the crypto exchange is negotiating with federal prosecutors over the possibility of eliminating a key oversight condition that mandates the retention of an external compliance monitor.\u00a0<\/p>\nSources familiar with the confidential discussions indicated that a successful negotiation could lead to a notable shift in the Department of Justice\u2019s approach to independent oversight, particularly as the agency has already started to reduce the number of monitors initially appointed during the Biden administration.<\/p>\n
Under President Donald Trump\u2019s administration, the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), have been among the regulators shifting their stance towards digital assets.\u00a0<\/p>\n
For instance, the SEC has opted to drop enforcement cases against Coinbase, Uniswap, Robinhood, and Binance. This comes after a harsh crackdown on the industry over the past couple of years, which resulted in the resignation of the exchange\u2019s former CEO, Changpeng Zhao (CZ).\u00a0<\/p>\n
BNB Outperforms Market<\/h2>\n
The potential deal between Binance and the US Department of Justice has generated considerable demand for BNB tokens, contributing to the altcoin\u2019s price rally which surpasses growth of 12% on the monthly time frame.\u00a0<\/p>\n
In contrast, the broader digital asset prices have seen continued consolidation with Bitcoin (BTC) as the perfect example, consolidation for the past two weeks below all-time high levels of $124,000 reached last August.\u00a0<\/p>\n
Following the news, BNB reached a high of $956. It is currently trading at $954 and still positioned to capitalize on the growing momentum for the exchange\u2019s native token.\u00a0<\/p>\n
Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
Binance Coin (BNB), the native token of the world\u2019s largest crypto exchange by trading volume, Binance, surged to a new all-time high on Tuesday, driven by speculation surrounding a potential agreement between Binance and the US Department of Justice (DOJ).\u00a0 This development comes in the wake of ongoing discussions regarding compliance monitoring requirements tied to […]<\/p>\n","protected":false},"author":0,"featured_media":97065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-97064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/97064"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=97064"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/97064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/97065"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=97064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=97064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=97064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}