U.S. Senator Probes Status of Binance Inquiry Over Iran Compliance Concerns

Sen. Richard Blumenthal has asked the DOJ and FinCEN for updates on monitors overseeing Binance, citing concerns about the exchange’s compliance program and allegations of weak anti-money laundering controls and Iranian-linked crypto flows. Binance agreed to a $4.3 billion fine in 2023 and two independent monitors starting 2024. Separately, multiple senators called for a 'prompt, comprehensive review' of Binance’s sanctions compliance, citing internal reports identifying $1.7 billion in crypto transactions tied to Iran, insider whistleblower dismissals, and potential Russian sanctions evasion. This article details regulatory probes and key allegations.