Lawmakers urge US regulators to review Binance’s AML and sanctions controls after reports of Iran-linked transactions and potential evasion risks.
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 (AML) requirements, citing recent reports.
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 senators pointed to allegations that approximately $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 reportedly identified more than 1,500 accounts accessed by users in Iran and potential activity connected to Russian sanctions evasion.
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