U.S Senator Probes Status of Binance Inquiry Over Iran Compliance Concerns

U.S. Senator Richard Blumenthal has requested updates from the Justice Department and FinCEN on Binance's compliance oversight, citing concerns over Iranian-linked crypto transactions and weak anti-money laundering controls. Senate Democrats, including Mark Warner and Elizabeth Warren, have also demanded a review of Binance's sanctions compliance following allegations of dismissals of internal investigators and $1.7 billion in Iranian-linked transactions.