U.S. Sen. Richard Blumenthal, D-Conn., has launched an inquiry into Binance following reports that the platform allegedly facilitated $1.7 billion in transactions to Iranian entities linked to terrorism. The investigation, opened Feb. 24 by the Senate Homeland Security Committee, centers on claims that Binance leadership ignored internal warnings from its own compliance team regarding massive money-laundering schemes.
The senator is also seeking to understand claims that Binance suspended or fired the investigators responsible for uncovering the Iranian link.
To address the committee’s concerns, Blumenthal’s letter asks Binance to produce comprehensive records detailing the suspension and termination of the compliance personnel and investigators involved in the internal probe.
FAQ Why is Binance under investigation? U.S. Sen. Blumenthal launched a probe into $1.7B in alleged Iran‑linked transfers. What triggered the Senate inquiry? Reports said Binance ignored compliance warnings about money‑laundering schemes. How has Binance responded? The exchange claims it cut ties with Blessed Trust and removed flagged accounts. What records has the Senate requested? Blumenthal asked for details on staff suspensions and internal probe actions.
