The Democratic Senators Chris Van Hollen, Elizabeth Warren, and Ruben Gallego confirmed that the U.S. Department of Justice is investigating whether Binance violated U.S. sanctions laws by facilitating billions of dollars in transactions linked to Iran and entities associated with terrorism. The probe follows their earlier request urging U.S. authorities to examine the exchange’s compliance with sanctions regulations. In a joint statement, the senators said the activity raises concerns that Binance may have helped enable financial flows connected to Iranian actors and their proxies despite existing restrictions under U.S. law. They also accused the company of previously prioritizing profits over legal compliance and said the latest reports indicate the exchange could again be operating in ways that undermine sanctions enforcement.
Earlier this week, The Wall Street Journal reported that the Department of Justice had started investigating whether Iran had used Binance to evade American sanctions. Binance pushed back against the allegations, stating that the media reports cited in the Senate are false, unsupported, and defamatory, and it has since filed a defamation lawsuit against WSJ.
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