The U.S. Justice Department is reportedly intensifying its scrutiny of cryptocurrency exchanges, specifically engaging in talks with Binance Holdings. As part of a multi-year investigation into Binance's compliance with anti-money laundering regulations, the department is proposing over $4 billion in penalties. The investigation, initiated in 2018, gained momentum with a request for internal anti-money laundering records and communications involving Binance founder Changpeng Zhao in December 2020. This development follows a June lawsuit by the Securities and Exchange Commission accusing Binance and Zhao of evading U.S. securities laws, which Binance has vehemently denied, pledging to defend its platform. Overall, these actions signal a significant shift in the U.S. government's approach to cryptocurrency regulation.