U.S. Senator Investigates Binance for Allegedly Providing Channels for Iran-Related Transactions

Odaily News: Richard Blumenthal, the chief Democrat on the U.S. Senate Homeland Security Committee's investigative panel, has launched an investigation into Binance following reports that the platform may have been involved in sanction evasion activities related to Iran. In a letter to Binance CEO Richard Teng, Blumenthal requested the submission of documents regarding records of Iranian users on Binance, internal compliance investigation materials, and information on the dismissal of relevant employees.

Media reports indicate that Binance's compliance team discovered that partners Hexa Whale and Blessed Trust were used as money laundering intermediaries and provided transaction channels for entities related to the Iranian government. Employees involved in the investigation reportedly faced disciplinary action or dismissal. Binance has denied the related allegations.