According to the report, New York-based law firm Sullivan & Cromwell is seen as the front-runner to be an independent monitor for Binance after the digital currency exchange reached a deal with the U.S. government.
The role is tipped to go to the well-known law firm that is currently leading the competition among the legal practitioners and the consultants who are also having their offers for this work position.
A monitoring team headed by supervisor Sharon Cohen Levin, a partner at Sullivan & Cromwell who spent some years at Babely as a former federal prosecutor, is slated to be appointed.
CZ, a Binance founder, has been included in the list of nominees for the position of a board member as part of a settlement agreement the exchange had last year with the authorities for pleading guilty to felony charges. The monitorship works as a deeper level of control which allows it to check if the agreement’s provisions are executed.
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