US Senators Call for Investigation into Binance’s Compliance with Sanctions
- A group of 11 US senators has requested a federal investigation into Binance regarding its compliance with US sanctions and Anti-Money Laundering (AML) regulations.
- The senators highlighted claims that approximately $1.7 billion in digital assets were funneled through Binance to Iranian entities linked to terrorism.
- More than 1,500 accounts reportedly accessed by users in Iran have raised concerns about potential sanctions evasion related to Russia.
- The lawmakers have set a deadline of March 13 for federal agencies to report on their examination of Binance’s conduct.
- Senator Richard Blumenthal has also initiated a congressional inquiry into Binance’s sanctions controls, requesting internal records from CEO Richard Teng.
The investigation comes amid allegations that some compliance staff at Binance were dismissed after uncovering suspicious transactions, raising questions about the exchange’s cooperation with law enforcement.
Binance has denied facilitating illicit transactions and disputes claims of processing over $1 billion in Iran-related transfers, emphasizing its commitment to reporting suspicious activity.(Source)
