DOJ taps FRA over Sullivan & Cromwell for Binance's 3-year monitorship: report
Powered by @unfolded- The United States Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA) as the outside monitor for crypto exchange Binance.
- FRA, a London-based firm specializing in forensic accounting and compliance consulting services, beat out Sullivan & Cromwell for the position.
- Binance must undergo a three-year monitorship as part of its plea deal with the DOJ related to money laundering violations.
- The monitorship is expected to be "hard" on Binance but may allow the exchange to re-enter markets it had been dropped from.