Senator Probes Binance Compliance Issues
Senator Richard Blumenthal recently sent a letter to Binance CEO Richard Teng, requesting detailed documentation regarding the platform's activities linked to Iran.
The requested documents include:
- Details on how users within Iran accessed and used Binance
- Internal files related to potential sanctions evasion
- Records tied to the layoff of compliance personnel
Context and Implications
This request comes just over two years after Binance admitted to operating without proper registration as a money transmitter and violating sanctions.
The move reignites scrutiny over Binance’s global compliance practices and underscores regulators' growing focus on cryptocurrency platforms.