{"id":22702,"date":"2026-02-25T06:12:25","date_gmt":"2026-02-25T06:12:25","guid":{"rendered":"https:\/\/bitunikey.com\/news\/u-s-senator-launches-inquiry-into-binances-alleged-sanctions-violations\/"},"modified":"2026-02-25T06:12:35","modified_gmt":"2026-02-25T06:12:35","slug":"u-s-senator-launches-inquiry-into-binances-alleged-sanctions-violations","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/u-s-senator-launches-inquiry-into-binances-alleged-sanctions-violations\/","title":{"rendered":"U.S. senator launches inquiry into Binance\u2019s alleged sanctions violations"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">U.S. Senator Richard Blumenthal announced a formal Senate inquiry into Binance after recent news reports revealed that the world\u2019s largest cryptocurrency exchange allegedly facilitated nearly $1.7 billion in transactions tied to sanctioned Iranian entities and Russia\u2019s so-called \u201cshadow fleet\u201d of oil tankers. <\/p>\n<div id=\"cn-block-summary-block_1648111e7b3415195af68f1e4eee7ae8\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Richard Blumenthal has opened a Senate inquiry into Binance following reports that the exchange processed roughly $1.7 billion in transactions linked to Iranian proxies and Russia\u2019s shadow fleet.<\/li>\n<li>The investigation seeks documents related to Binance\u2019s compliance practices and the alleged dismissal or sidelining of internal investigators who flagged suspicious accounts.<\/li>\n<li>Binance has denied wrongdoing and says it has significantly reduced sanctions exposure while strengthening its anti-money-laundering controls.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Blumenthal demands answers from Binance<\/h2>\n<p>The <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.blumenthal.senate.gov\/newsroom\/press\/release\/blumenthal-opens-inquiry-after-new-reporting-reveals-binance-allowed-17-billion-in-money-laundering-to-iran-proxies-and-russias-shadow-fleet\" target=\"_blank\" rel=\"nofollow\">inquiry<\/a> centers on questions about the company\u2019s compliance practices and its response to internal warnings from compliance staff.<\/p>\n<p>In a letter to Binance CEO Richard Teng, Blumenthal, ranking member of the Senate Permanent Subcommittee on Investigations, demanded documents and records detailing the circumstances surrounding the illicit transfers and why compliance personnel who uncovered the activity were reportedly suspended or dismissed. <\/p>\n<p>Interestingly, the investigation comes as Binance recently said it has sharply reduced its exposure to sanctioned entities, reporting a roughly 96% drop in related activity between early 2024 and mid-2025. The exchange has argued that sanctions-linked transactions now account for a tiny fraction of total trading volume.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>According to reporting in the New York Times and Wall Street Journal, Binance internal investigators found over 1,500 accounts accessed from Iran and traced funds sent through intermediaries, including Hexa Whale and Blessed Trust, to entities linked to Iran\u2019s Islamic Revolutionary Guard Corps and payments to personnel on Russian ships evading sanctions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBinance is a repeat offender: it has long been aware that the Iranian regime and its terrorist proxies use its cryptocurrency platform as a convenient and reliable means to bypass international sanctions, anti-money laundering controls, and other banking restrictions,\u201d the senator wrote in the letter.<\/p>\n<\/blockquote>\n<p>Blumenthal\u2019s letter also accused Binance of ignoring clear warning signs, allowing potentially illicit accounts to operate, and even reportedly providing support to money-laundering entities, despite a 2023 settlement with U.S. authorities that required enhanced anti-money-laundering controls. <\/p>\n<p>The senator\u2019s inquiry also references concerns about the reported firing of internal investigators who flagged the activity, raising questions about corporate compliance culture.<\/p>\n<p>Binance has publicly denied that it knowingly facilitated sanctions evasion or that its compliance staff were punished for raising concerns, saying flagged accounts were offboarded and that it cooperates with regulators. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Senator Richard Blumenthal announced a formal Senate inquiry into Binance after recent news reports revealed that the world\u2019s largest cryptocurrency exchange allegedly facilitated nearly $1.7 billion in transactions tied&hellip;<\/p>\n","protected":false},"author":1,"featured_media":22703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=22702"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22702\/revisions"}],"predecessor-version":[{"id":22704,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/22702\/revisions\/22704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/22703"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=22702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=22702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=22702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}