Overview
- Eleven Democratic senators asked the Justice Department and Treasury to investigate Binance’s sanctions and anti–money laundering controls with a formal response due March 13.
- Their letter cites internal findings that about $1.7 billion in crypto moved through Binance to Iranian-linked entities, including groups tied to the Houthis and the IRGC.
- Lawmakers say investigators identified more than 1,500 accounts accessed from Iran and noted potential activity consistent with Russian sanctions evasion.
- The senators allege Binance dismissed compliance staff who raised concerns and has become less cooperative with law-enforcement information requests.
- Binance denies the allegations and says it reports suspicious activity to authorities, while a separate inquiry from Senator Richard Blumenthal seeks company records by March 6.