US Senate Investigates Binance over Iran Sanctions Allegations

The US Senate has launched an inquiry into Binance's activities, focusing on allegations that the cryptocurrency exchange enabled large-scale violations of US and international sanctions against Iran.

The investigation is based on reports by The Wall Street Journal, The New York Times, and Fortune, which suggest that Binance's internal compliance staff discovered Iranian entities using the platform despite warnings and restrictions.

Binance has rejected the allegations, citing its own internal review finding 'no evidence of violations' and emphasizing its strengthened compliance systems.