US Senators Question Binance's Anti-Money Laundering Controls

US lawmakers are increasing pressure on Binance, a major cryptocurrency exchange, over concerns about its anti-money laundering controls and compliance with US sanctions laws.

The request was made in a letter sent by nine Democratic senators to the Treasury Secretary and Attorney General. The letter highlighted recent reports alleging that large sums of money were moved through Binance to terrorist groups or sanctions evaders.

The senators also expressed concerns about Binance's internal controls, citing allegations that the exchange dismissed compliance staff involved in identifying suspicious transactions.