Democrats Urge Treasury and DOJ Investigation into Binance Compliance Practices

U.S. Senate Democrats have intensified their scrutiny of cryptocurrency exchange Binance, calling for a comprehensive investigation into its compliance practices. A letter sent to the Treasury Department and Department of Justice highlights concerns about potential terrorism financing and sanctions violations linked to the exchange.

The lawmakers pointed out reports suggesting that Binance may have processed transactions tied to terrorist groups or sanctions evaders. Compliance staff who identified suspicious activity were allegedly dismissed, raising further questions about the exchange's anti-money laundering (AML) controls.