US senator probes Binance over alleged Iran and Russia sanctions violations

Senator Richard Blumenthal (D-CT) has launched an investigation into Binance, the largest cryptocurrency exchange, over allegations that it facilitated money laundering and sanctions evasion for Iranian entities and Russia's shadow oil fleet. The probe follows reports suggesting Binance partners acted as intermediaries for illicit transactions, potentially involving terrorist groups like the Houthis, and that the exchange maintained thousands of Iranian-linked accounts while allegedly silencing compliance staff who raised alarms. Blumenthal requested detailed records from CEO Richard Teng regarding these transactions, compliance staff dismissals, and the use of crypto assets like Tether, setting a March 6 deadline. This investigation compounds Binance's existing regulatory scrutiny following its 2023 guilty plea for processing over $1 billion in transfers to sanctioned entities. Binance has disputed the new allegations, claiming its Iran-linked exposure has drastically fallen and denying staff terminations were compliance-related.

(Source：Crypto Briefing)