In a significant bipartisan move, Senators Elizabeth Warren and Adam Schiff have introduced a formal resolution condemning the presidential pardon of the founder of Binance, the world’s largest cryptocurrency exchange. The resolution highlights two primary concerns that the senators argue undermine financial integrity and national security.
First, the resolution addresses the founder’s failure to implement adequate anti-money laundering protocols at Binance, which allowed illicit financial activities to potentially flourish through the platform. This regulatory gap, according to the senators, exposed the global financial system to significant risks and set a dangerous precedent for compliance within the digital asset industry.
Second, the document references Binance’s financial connections to members of the Trump family, suggesting these ties may have influenced the pardon decision. The senators assert that such relationships raise serious ethical questions about the impartiality of executive clemency powers.
The resolution represents one of the first major congressional responses to cryptocurrency-related presidential pardons and signals growing scrutiny of the intersection between digital asset regulation and executive authority. Both senators emphasized that their concerns transcend partisan politics, focusing instead on maintaining the integrity of financial systems and government accountability.
This development comes amid increasing regulatory attention on cryptocurrency exchanges worldwide, with U.S. lawmakers seeking to establish clearer frameworks for digital asset oversight and enforcement.
