U.S. Senator Investigates Binance Over Alleged Iran Fund Transfers, Binance Claims Reports Are Inaccurate

Odaily News According to a report by CoinDesk, Richard Blumenthal, the Democratic leader of the U.S. Senate Homeland Security Committee, has launched an investigation into Binance's alleged violations of sanctions. Richard Blumenthal has sent a letter to Binance, inquiring about the alleged transfer of $1.7 billion to organizations linked to Iran. Richard Blumenthal has requested that Binance provide transaction records related to the entities involved in the alleged fund transfers, as well as records of previous compliance personnel being suspended and dismissed. U.S. investigators have identified two entities involved in transferring funds to Iran.

A Binance spokesperson stated in a response letter that previous reports by The New York Times were incorrect. Binance has strict KYC and compliance processes, and there are no Iranian users on its platform. The Binance spokesperson reiterated that reports by The New York Times, The Wall Street Journal, and Fortune regarding the dismissal of four investigators involved in the matter contained false claims.

Yesterday, Binance's Co-CEO Richard Teng posted on social media, stating, "Recently, there have been inaccurate reports regarding Binance's compliance program. The Wall Street Journal published defamatory statements, and despite our efforts to clarify the facts, the journalist did not respond to any of our corrections. Binance has sent the attached letter demanding immediate correction and full retraction of these false claims." (CoinDesk)