US senators have opened an inquiry into Binance following stories that up to ~$1.7B in crypto transactions might have flowed from accounts on the change to Iranian-linked entities between 2024–2025.
In response to NYT/WSJ reporting cited by lawmakers:
- inner investigators identified 1,500+ Iran-linked accounts
- funds have been traced to intermediaries tied to sanctioned networks
- some compliance employees who flagged the activity have been reportedly dismissed
- Binance says the dismissals have been unrelated and accounts have been eliminated
The Senate inquiry is requesting paperwork on compliance controls and inner handling of the findings.
This comes after Binance’s 2023 US settlement over AML/sanctions violations and the requirement to strengthen compliance oversight.
Full article:
https://btcusa.com/us-senators-probe-binance-over-alleged-1-7b-iran-linked-transactions/
What do individuals here assume — is this principally political strain, or an actual compliance danger for Binance going ahead?
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