US Senators Call for Federal Probe Into Binance Sanctions Compliance

A group of 11 U.S. senators has urged federal authorities to investigate whether cryptocurrency exchange Binance is fully complying with U.S. sanctions laws and Anti-Money Laundering (AML) requirements. In a letter sent to Treasury Secretary Scott Bessent and Attorney General Pamela Bondi, the lawmakers requested a comprehensive review of the exchange’s compliance framework and its adherence to settlement agreements reached in 2023.

The senators cited reports alleging that approximately $1.7 billion in digital assets may have flowed through Binance to Iranian entities tied to terrorism, including groups linked to the Houthis and the Islamic Revolutionary Guard Corps. They also referenced findings of more than 1,500 accounts allegedly accessed from Iran and potential exposure to Russian sanctions evasion activity.

Congressional Scrutiny Intensifies Over Compliance Concerns

The letter was signed by Senators Chris Van Hollen, Ruben Gallego, Elizabeth Warren and several colleagues. Separately, Senator Richard Blumenthal launched a congressional inquiry, requesting internal documents from Binance CEO Richard Teng.

Binance has denied facilitating illicit transactions, stating it reports suspicious activity and does not permit Iranian users on its platform.

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