US Senator Probes Binance Over Alleged Iran, Russia Sanctions Breaches
Senator Blumenthal launched an investigation into Binance regarding $1.7 billion in transactions potentially violating Iran and Russia sanctions.Summary
US Senator Richard Blumenthal has initiated a congressional inquiry into Binance following reports of approximately $1.7 billion in transactions linked to sanctioned Iranian entities and Russia’s oil “shadow fleet.” The Senator requested documents and internal records related to Binance’s sanctions controls and compliance practices, citing reports from the Wall Street Journal, New York Times, and Fortune. These reports allege Binance staff identified intermediaries facilitating trade with Iranian government-linked organizations and traced transfers to entities associated with Iran’s Islamic Revolutionary Guards Corps and Russian oil export evasion. Binance denies the allegations, stating it identified and reported suspicious activity and maintains it does not allow Iranian users. The inquiry follows Binance’s 2023 settlement with US authorities for AML and sanctions violations, raising questions about its adherence to the agreement.
(Source：Cointelegraph)