11 US senators urge probe into Binance's AML and sanctions controls

A group of 11 US senators has asked federal authorities to investigate whether crypto exchange Binance is complying with US sanctions and anti‑money‑laundering requirements. In a letter on Friday to Treasury Secretary Scott Bessent and Attorney General Pamela Bondi, the lawmakers urged a "prompt, comprehensive review" of the exchange's compliance controls and its adherence to settlement agreements reached in 2023.

The lawmakers pointed to allegations that roughly $1.7 billion in digital assets flowed through Binance to Iranian entities linked to terrorism, including groups connected to the Houthis and the Islamic Revolutionary Guard Corps. Investigators also identified more than 1,500 accounts accessed by users in Iran and potential activity tied to Russian sanctions evasion.

The letter asserts some Binance compliance staff who uncovered suspicious transactions were later dismissed, and that law enforcement has found the exchange less cooperative in providing customer information.

United States

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