Sen. Blumenthal probes Binance over alleged $1.7 billion in crypto Iran-linked transactions

U.S. Senator Richard Blumenthal, a Democrat on the Senate Homeland Security Committee, has launched an investigation into cryptocurrency exchange Binance over allegations of sanctions violations. Blumenthal sent a letter to Binance co-CEO Richard Teng demanding records concerning $1.7 billion allegedly transferred from the platform to Iran-linked organizations, including Yemen’s Houthi militants. These violations were reportedly identified by internal Binance investigators who were subsequently dismissed. Binance denied the allegations, stating it has strict KYC procedures and no Iranian users. The probe also seeks records regarding the suspension and dismissal of the compliance staff who flagged these issues. This follows Binance's founder, Changpeng Zhao, pleading guilty in November 2023 to violating anti-money-laundering laws and allowing transactions for sanctioned countries like Iran.

(Source：CoinDesk)