U.S. Senate Democrats asked Treasury, DOJ to probe Binance's illicit finance controls
Nine Senate Democrats urged the Treasury and DOJ to investigate Binance's illicit finance controls following reports of potential terrorism funding.Summary
Nine U.S. Senate Democrats sent a letter to the heads of the Treasury and Justice departments requesting an investigation into Binance's sanctions compliance and illicit finance controls. This action follows media reports alleging potential funding channeled through the exchange to terrorist groups and claims that Binance fired compliance personnel involved in discovering these transactions. The senators, including Elizabeth Warren and Mark Warner, expressed grave concerns that poor controls at Binance pose a significant national security threat and requested updates on the company's compliance with its 2023 settlement terms. The letter also referenced Binance's ties to the Trump-backed venture World Liberty Financial and President Trump's pardon of Binance founder Changpeng "CZ" Zhao, highlighting ongoing legislative discussions regarding illicit finance in crypto markets.
(Source：CoinDesk)