Senate Dems Push DOJ, Treasury To Probe Binance

"According to the senators, Binance compliance personnel uncovered evidence last year that roughly $1.7 billion in digital assets had been routed through the exchange to Iranian entities, including the Iran-backed Houthis and the Islamic Revolutionary Guard Corps. In one instance, a Binance vendor allegedly moved $1.2 billion in funds connected to Iran-linked actors."

"The lawmakers raised concerns that employees who identified the transactions were dismissed and that Binance has become less responsive to law enforcement requests. They argued that such actions would conflict with the company's obligations under its 2023 plea agreement and related settlements."

"In a letter sent Friday to Attorney General Pam Bondi and Treasury Secretary Scott Bessent, the senators urged the Justice Department and Treasury to conduct a 'prompt, comprehensive review' of Binance's sanctions compliance controls. The lawmakers cited recent media reports alleging that billions of dollars in digital assets flowed through the platform to Iranian entities, including groups linked to terrorism."

Eleven Democratic senators on the Banking Committee sent a letter to Attorney General Pam Bondi and Treasury Secretary Scott Bessent requesting a comprehensive review of Binance's sanctions compliance. The senators cited media reports alleging billions of dollars in digital assets flowed through the platform to Iranian entities, including terrorist-linked groups. According to the letter, Binance compliance personnel discovered approximately $1.7 billion in digital assets routed to Iranian entities, including the Iran-backed Houthis and Islamic Revolutionary Guard Corps. The platform allegedly facilitated $1.2 billion in Iran-linked transactions through a vendor. The senators expressed concern that employees identifying these transactions were dismissed and that Binance became less responsive to law enforcement, potentially violating its 2023 plea agreement obligations.

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