US Treasury Cracks Down on Binance Over Iran-Linked Crypto Flows

The US Treasury has intensified its efforts to ensure compliance with Binance, one of the largest centralized exchanges. According to reports, the Department is pushing Binance to fully adhere to the monitoring framework tied to its 2023 agreement.

That agreement placed Binance under an independent monitor to improve compliance around money laundering and sanctions violations.

The latest development comes in the context of a broader US enforcement push against entities linked to Iran. Recent data suggests that over $1 billion may have moved through Binance to entities connected to Iran, amid rising geopolitical tensions between the two nations.