Several Democratic lawmakers say they will closely monitor a reported investigation by the United States Department of Justice into potential sanctions violations involving the cryptoexchange Binance.
Chris Van Hollen, Elizabeth Warren and Ruben Gallego said in a joint statement that they intend to ensure authorities conduct a thorough inquiry and hold the company accountable if wrongdoing is confirmed. The comments followed reports suggesting that individuals linked to Iran may have used the platform to bypass international sanctions.The lawmakers argued that the claims raise serious questions about whether the exchange has again failed to comply with US sanctions laws.
Reported Investigation Into Iran-Linked Transactions
According to reports citing people familiar with the matter, the Justice Department is examining whether entities connected to Iran used Binance to move digital assets despite existing financial restrictions.
The senators also noted that they recently asked Scott Bessent, the US Treasury secretary, and Pam Bondi, the US attorney general, to look into the movement of funds potentially tied to Iranian networks.
A spokesperson for Binance previously stated that the company was not aware of any active investigation but said it continues cooperating with regulators and law enforcement when necessary.
Binance Disputes Allegations and Files Defamation Lawsuit
The exchange has strongly denied recent allegations and filed a defamation lawsuit against The Wall Street Journal over a report published in February. The article claimed the company dismissed employees who raised concerns about roughly $1 billion in cryptocurrency connected to sanctioned Iranian organizations, including groups associated with the Islamic Revolutionary Guard Corps.Binance said the claims are inaccurate and rejected suggestions that it halted internal investigations.
In November 2023, Binance pleaded guilty to violating US anti-money-laundering and sanctions regulations and agreed to pay a $4.3 billion penalty while operating under US oversight.Former chief executive Changpeng Zhao also pleaded guilty to a related charge and served a four-month prison sentence in 2024 before receiving a pardon from Donald Trump later that year.
Disclaimer
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