- Binance wants the U.S. to stop closely watching its actions.
- The exchange may soon list a Trump-backed coin called USD1.
- Crypto and politics are now more connected than ever.
Binance, the biggest crypto exchange in the world, is making the news again. This time, it is asking the U.S. government to stop watching its activities so closely, and at the same time, it is also talking to a new crypto company linked to Donald Trump’s family.
The company is called World Liberty Financial, and they’re planning to launch a new stablecoin called USD1. If this coin gets popular, it could make a lot of money for the Trump family.
Why Is Binance Under Watch Right Now?
In 2023, Binance admitted to breaking U.S. rules related to money laundering. It had to pay a massive $4.3 billion fine and agreed to let a government monitor keep an eye on its actions. That monitor was supposed to make sure Binance followed the law. But now, Binance says it has cleaned up its act and doesn’t need to be watched anymore. Some people think it’s too soon and that the monitor should stay in place to avoid more problems.
What’s With Trump’s Crypto Coin?
While all this is going on, Binance is also talking to a new crypto company supported by Donald Trump’s circle. The company is working on launching a digital coin called USD1, which is a “stablecoin.” That means it’s designed to always be worth about the same as the U.S. dollar. Binance is thinking about letting people buy and trade USD1 on its platform. If lots of people start using this coin, it could bring in big profits for Trump’s team.
Why This Matters for Crypto and the U.S.
This is a big deal because it shows how crypto, money, and politics are becoming closely connected. Binance wants fewer rules, and it’s working with a company linked to a major political figure. That could change how crypto is treated in the U.S. Some people think fewer rules will help crypto grow faster. Others worry it could lead to more risk and less protection for regular users.
Shift in Government’s Crypto Attitude
Since Donald Trump returned to power, his government has taken a friendlier approach to crypto. Recently, a tax rule that would have hurt decentralized finance (DeFi) platforms was cancelled. This shows a clear trend: the current U.S. leadership wants to support crypto, not block it. Still, it’s important to find a balance between freedom and responsibility in the crypto space.
Conclusion
Binance is trying to move past its legal troubles and team up with Trump’s new crypto group. They want less government control and a bigger chance to grow. If things go their way, this could change the future of crypto in the U.S.
