Connecticut Senator Richard Blumenthal questioned US authorities accountable for overseeing Binance about whether or not the corporate is complying with anti-money laundering legal guidelines and sanctions beneath its 2023 court-imposed monitoring program.
Based on a report revealed by Fortune on Friday, Blumenthal despatched letters to the Justice Division and the US Treasury’s Monetary Crimes Enforcement Community (FinCEN), asking for particulars on Binance’s compliance.
Binance and its former CEO Changpeng “CZ” Zhao reached a deal in 2023, wherein the trade would pay $4.3 billion to settle civil regulatory enforcement actions, and CZ would plead responsible to 1 felony cost.
The deal additionally required that Binance be topic to monitoring and reporting necessities by US officers.
Blumenthal’s letter stated he was involved about “mounting allegations of dangerously lax anti-money laundering prevention by Binance.” Fortune reported that DOJ and FinCEN officers accountable for overseeing the trade as half of the deal wouldn’t remark.
The letter adopted reviews that Binance was beneath scrutiny relating to US sanctions imposed on Iran.
The crypto trade reportedly fired people accountable for telling Binance executives that $1 billion flowed by means of the platform to entities tied to Iran. A spokesperson for the trade has denied the claims.
In February, a bunch of senators urged Treasury Secretary Scott Bessent and former Lawyer Normal Pamela Bondi, who was fired by US President Donald Trump in April, to finish a “immediate, complete assessment” of Binance’s compliance controls.
Trump-Binance ties are nonetheless beneath scrutiny
Some US lawmakers have alleged that connections between Binance and Trump create conflicts of curiosity for the US President and his household’s crypto companies.
In March 2025, a United Arab Emirates-based entity bought a $2 billion stake in Binance utilizing the USD1 stablecoin issued by World Liberty Monetary, the corporate co-founded by Trump and his sons.
Trump additionally pardoned Binance’s former CEO, CZ, in October 2025 after he served 4 months in jail as half of his 2023 responsible plea.
