released<\/a> Thursday, Senators Elizabeth Warren, Chris Van Hollen, and Ruben Gallego vowed to conduct oversight of the probe into Binance to \u201censure the Department of Justice conducts a serious investigation into Binance and holds the company accountable for any wrongdoing.\u201d<\/p>\nThe U.S. Department of Justice has reportedly launched a probe into Binance, according to The Wall Street Journal. The probe will examine whether the global crypto exchange was used to evade sanctions by allowing transactions linked to Iran-backed networks.<\/p>\n
Investigators have reportedly contacted individuals familiar with the transactions to secure evidence on how the funds moved through the exchange.<\/p>\n
<\/p>\n
Binance has yet to acknowledge the latest DOJ investigation and maintains that it has cooperated with law enforcement during previous inquiries before shutting down accounts linked to the transactions.<\/p>\n
However, the senators remain unconvinced and said that the exchange has an \u201cestablished track record of putting profits ahead of the law.\u201d<\/p>\n
\u201cRecent reports raise serious concerns that the firm is again violating U.S. sanctions laws, recklessly helping bankroll the activities of terrorist groups connected to Iran,\u201d they added.<\/p>\n
Binance Vs WSJ<\/h1>\n
A separate report from The Wall Street Journal published last month claimed that Binance had fired internal staff who flagged $1 billion worth of crypto transactions tied to sanctioned Iranian entities.<\/p>\n
Binance denied those allegations and filed a defamation lawsuit against the publication.<\/p>\n
The latest scrutiny into Binance follows the company\u2019s guilty plea in 2023 for violating anti-money laundering and sanctions laws in the U.S. Subsequently, it had to pay a record $4.3 billion fine and agreed to operate under U.S. regulatory oversight.<\/p>\n
Binance\u2019s CEO at the time, Changpeng Zhao, had to step down from his role following his own guilty plea and served four months in prison.<\/p>\n
Zhao was later pardoned by U.S. President Donald Trump, which became another flashpoint in Washington as Senator Warren criticized the decision.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Three Democratic senators have said they will oversee the Justice Department\u2019s investigation into crypto exchange Binance over possible violations of U.S. sanctions tied to Iran-linked transactions. Summary Three Democratic senators…<\/p>\n","protected":false},"author":1,"featured_media":2749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23773","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\/23773","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=23773"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23773\/revisions"}],"predecessor-version":[{"id":23774,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23773\/revisions\/23774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2749"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=23773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=23773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=23773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}