According to Bloomberg, the US Department of Justice (DOJ) has reportedly chosen consulting firm Forensic Risk Alliance (FRA) as the external regulatory agency for Binance. It should be noted that FRA has previously admitted to violating US anti-money laundering regulations and trade sanctions. Initially, Sullivan & Cromwell, a Wall Street law firm, was considered the top choice for this role. The DOJ has declined to comment on the matter, and representatives from Sullivan & Cromwell and FRA have not immediately responded to requests for comment.
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