Binance Seeks US Reforms, Raises Token Standards, Targets Africa Growth

Binance Seeks Regulatory Relief in the US

Executives from Binance, the world's largest cryptocurrency exchange, reportedly met with officials from the US Treasury Department in March to discuss easing regulatory oversight. According to The Daily Hodl, the discussions focused on removing one of the two monitors currently overseeing Binance's compliance with anti-money laundering (AML) laws. Binance's leadership, including CEO Richard Teng and Chief Legal Officer Eleanor Hughes, argued that the monitorship imposes "inefficient and costly burdens" on the company.

The meeting also coincided with discussions between Binance and World Liberty Financial, a Trump family-backed crypto venture, about listing the USD1 stablecoin on Binance's platform. A spokesperson for World Liberty Financial stated that the stablecoin aims to be "accessible for millions globally." The Wall Street Journal reported that Binance is optimistic about receiving approval for its requests under the Trump administration.

"Binance wants the Treasury Department to remove one of the two monitors that oversee the exchange," reported The Daily Hodl.

Key Takeaways:

Binance seeks to reduce the scope and duration of its regulatory monitorship.
Discussions included potential listing of the USD1 stablecoin, backed by the Trump family.

Binance Tightens Token Listing Standards

Binance has launched the second round of its "Vote to Delist" campaign, targeting 17 tokens for potential removal from its platform. According to 99Bitcoins, tokens under review include FTT, JASMY, ZEC, and VOXEL. Verified Binance users with at least 0.01 BNB in their accounts were allowed to vote on the tokens' fate during the voting period, which ended on April 10, 2025.

While community feedback plays a role, Binance emphasized that final decisions will also consider metrics such as trading volume, liquidity, and compliance with regulatory requirements. This initiative follows the first round of delistings earlier this month, which saw 14 underperforming tokens removed due to low trading activity and development issues.

Binance's stricter listing standards reflect its broader push for transparency and quality control in the crypto market, which now includes over 36.4 million altcoins in circulation.

Key Takeaways:

17 tokens, including FTT and ZEC, are under review for delisting.
Binance aims to prioritize quality and compliance over quantity in its listings.

Africa's Crypto Landscape: Regulation and Innovation

Kenya, Nigeria, and Cameroon are making headlines in the African crypto space. According to 99Bitcoins, Kenya's Parliament is reviewing a new virtual assets bill aimed at regulating crypto service providers. The bill proposes oversight by the Capital Markets Authority and the Central Bank, focusing on combating illicit money flows and ensuring customer identity verification.

In Nigeria, a court has postponed a $2 billion tax evasion lawsuit against Binance to the end of April. The Nigerian government claims Binance owes back taxes and has caused $79.5 billion in economic losses. Binance, however, argues that it is incorporated in the Cayman Islands and does not have a taxable presence in Nigeria.

Meanwhile, Cameroon is set to host the Bitcoin Africa Conference in Douala from April 25 to 27. The event will focus on financial inclusion and innovation, bringing together crypto entrepreneurs and thought leaders from across the continent.

Key Takeaways:

Kenya's virtual assets bill seeks to regulate crypto service providers.
Nigeria's $2 billion tax lawsuit against Binance has been postponed.
The Bitcoin Africa Conference will take place in Douala, Cameroon, later this month.

Sources: