Treasury demands Binance comply with monitoring guidelines amid reports over $1 billion flowed to Iran-linked groups: report

The U.S. Department of the Treasury has privately instructed Binance to adhere to a monitoring program it agreed to as part of its 2023 guilty plea. This demand comes amid reports that approximately $1 billion has been transacted through the crypto exchange to entities linked to Iran. The Treasury sent a letter in recent weeks, emphasizing Binance's obligation to cooperate fully with the monitoring program by providing timely information and documents. This action follows earlier reports suggesting that Binance fired investigators who uncovered evidence of Iran-linked financial flows, with internal investigations also revealing significant sums moving from Binance accounts to groups connected to Iran's Islamic Revolutionary Guards Corps. Binance has stated its commitment to cooperating with the independent monitor and relevant agencies, acknowledging past issues and working to improve transparency and response times.

(Source：The Block)