Big Brother surveillance dystopia is now reality at Binance
When Binance agreed to a $4.3 billion settlement with the US Department of Justice (DoJ), the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Control (OFAC), it agreed to allow two government agencies to appoint compliance monitors within the company. As a result, Binance agreed to let the DoJ monitor its operations for three years and FinCEN for five. After a lengthy bidding process, the DoJ picked Forensic Risk Alliance (FRA) to operate its monitorship while, according to Bloomberg, law firm Sullivan & Cromwell will likely fulfill FinCEN’s. Never before in the history of Binance has such an expansive surveillance apparatus existed. Indeed, as the world’s largest crypto exchange and hub for tens of millions of crypto traders around the world, these DoJ and FinCEN monitorships are arguably the most powerful and comprehensive government surveillance operations in the history of crypto. US crypto su