11 US Senators Urge Probe Into Binance's AML Controls

Eleven US senators sent a letter to the Treasury Secretary and Attorney General demanding a prompt, comprehensive review of Binance's compliance controls regarding US sanctions and Anti-Money Laundering (AML) requirements. The senators cited allegations that about $1.7 billion in digital assets flowed through Binance to Iranian entities linked to terrorism, including groups connected to the Houthis and the Islamic Revolutionary Guard Corps, alongside potential Russian sanctions evasion activity. They also expressed concern that newer products, like payment cards in former Soviet Union regions, could facilitate sanctions evasion. The lawmakers noted reports that Binance compliance staff who found suspicious transactions were dismissed and that the exchange became less cooperative with law enforcement. Separately, Senator Richard Blumenthal launched his own congressional inquiry into Binance's sanctions controls. Binance has rejected the allegations, stating it identifies and reports suspicious activity and does not permit Iranian users, calling recent media coverage a misrepresentation of its operations.

(Source：Cointelegraph)