Lawmakers Press for Investigation Into Binance Over Sanctions Concerns
The post Lawmakers Press for Investigation Into Binance Over Sanctions Concerns appeared on BitcoinEthereumNews.com.
Senators press federal agencies to examine Binance’s anti-money laundering controls and USD1 stablecoin links. Pressure is mounting on Binance as U.S. lawmakers call for closer federal scrutiny. Nine Democratic senators have asked top officials to review the exchange’s sanctions compliance and anti-money laundering controls. The request adds new tension as Congress debates stricter rules for the crypto industry. U.S. Senators Question Binance’s Settlement Compliance and Internal Controls Nine Democratic senators sent a letter Friday to Treasury Secretary Scott Bessent and Attorney General Pam Bondi. They urged both departments to review Binance’s compliance with U.S. sanctions laws and illicit finance rules. Signatories include Elizabeth Warren, Ruben Gallego, Angela Alsobrooks, and Mark Warner. Lawmakers cited recent reports alleging large sums moved through Binance to terrorist groups or sanctions evaders. Those reports also claimed the exchange dismissed compliance staff involved in identifying suspicious transactions. Senators said such allegations point to weaknesses in Binance’s internal controls. “These allegations raise grave concerns that poor illicit finance controls at Binance remain a significant threat to national security,” the letter states. Senators also asked the agencies to assess Binance’s adherence to requirements from its 2023 settlement with U.S. authorities.Earlier in the week, Richard Blumenthal said he had sent a letter to Binance asking for more details. He serves as a senior member of the Senate Homeland Security Committee. However, Democrats are not the majority party in the Senate right now. That means they cannot easily start official investigations through committees. Interestingly, Binance rejected the allegations. Co-CEO Richard Teng called the earlier reports “inaccurate” and “defamatory.” At the same time, Congress is still working on the Digital Asset Market Clarity Act. Senators are debating how strict crypto companies’ anti-money laundering and sanctions rules should be. Senator Mark Warner is leading efforts among Democrats to shape those rules. Binance’s…
Filed under: News - @ February 28, 2026 1:21 pm