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    Senator Blumenthal Presses Binance Over Iran Compliance and Lobbying Concerns

    1 Min Read News

    U.S. Senator Richard Blumenthal has formally requested records from Binance regarding its compliance controls and alleged exposure to sanctioned jurisdictions, including Iran. The Connecticut Democrat asked CEO Richard Teng to provide documentation tied to potential use of the exchange by individuals in Iran, as well as internal communications related to the dismissal of compliance personnel.

    The inquiry centers on whether the crypto platform adequately enforced sanctions restrictions and maintained sufficient oversight to prevent illicit financial flows. Lawmakers have increasingly scrutinized major exchanges as regulators tighten enforcement around anti-money laundering and sanctions frameworks.

    Binance Response and Political Concerns

    The company detects and reports suspicious activity, calling claims of weak oversight inaccurate. The exchange emphasized that it has undergone significant compliance restructuring in recent years to meet regulatory standards.

    Blumenthal also questioned Binance’s reported financial relationship with World Liberty Financial, suggesting the partnership could raise concerns about influence and accountability as federal scrutiny of the crypto sector intensifies.

    Disclaimer

    This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.

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