US Treasury Department Demands Compliance from Cryptocurrency Exchange Binance

The US Treasury Department has taken action against the popular cryptocurrency exchange Binance, sending a formal letter demanding full compliance with a government oversight program.

The request comes after reports of over $1 billion in cryptocurrency flowing through Binance to entities linked to Iran. The Treasury Department has also requested information and documents relating to former employees.

According to sources, the letter was prepared based on concerns raised by an independent auditor regarding certain Binance activities. Authorities have requested that Binance share data records and documents in a timely manner and have senior executives available for interviews.