‍US Senators Demand DOJ and Treasury Probe Binance Compliance

Eleven US senators have formally requested a federal investigation into Binance, citing potential violations of sanctions and Anti-Money Laundering (AML) protocols. The inquiry focuses on reports of approximately $1.7 billion in digital assets flowing through the exchange to Iranian entities, allegedly linked to organizations like the Houthis and the IRGC. Concerns also include the dismissal of compliance staff, decreased cooperation with law enforcement, and new payment card products that may facilitate illicit flows.

Binance CEO Richard Teng has vehemently denied the allegations, calling recent media reports defamatory and stating the exchange does not permit users from Iran and actively reports suspicious activity. This scrutiny coincides with a separate inquiry by Senator Richard Blumenthal into the exchange's sanctions controls. The outcome of this investigation, with a report due by March 13, 2026, is expected to have significant implications for the oversight of centralized crypto exchanges.

https://cryptovka.com/news/us-senators-demand-doj-and-treasury-probe-binance-compliance