US Senate Probes Binance Over $1.7 Billion Iran-Linked Flows

The US Senate has launched an investigation into Binance, the world's largest cryptocurrency exchange, over allegations that $1.7 billion flowed from accounts on its platform to Iran-linked entities in 2024-2025.

The probe, led by Senator Richard Blumenthal, focuses on potential sanctions lapses and internal controls at Binance. The investigation follows media reports and raises questions about how screening and escalation processes were applied to high-risk exposure.

Binance has disputed the allegations, stating that compliance probes follow law and procedures, according to CCN. However, if substantiated, potential exposure could include additional civil penalties, mandated remediation, or operational restrictions under US sanctions law administered by the Office of Foreign Assets Control.