US Senator Richard Blumenthal has launched an investigation into Binance, a major cryptocurrency exchange, alleging that it is not complying with international sanctions. According to reports, Binance has conducted approximately $1.7 billion in transactions related to sanctioned entities from Iran and Russia.
The investigation, led by the Senate Permanent Subcommittee on Investigations, will examine Binance's compliance checks, internal records, and transfers made to IRGC-linked wallets through intermediaries like Hexa Whale and Blessed Trust. Senator Blumenthal has requested documents from Binance CEO Richard Teng, with a deadline of March 6, 2026.
The allegations have raised concerns about regulatory pressure in the crypto market, which may affect altcoins like ALT. The investigation's outcome may have significant implications for the industry, and regulators are closely monitoring the situation.