Richard Blumenthal has formally launched a Senate investigation into Binance over reports that as much as $1.7 billion in cryptocurrency transfers may have flowed through the exchange to entities linked to Iran and other sanctioned networks between 2024 and 2025. According to reporting highlighted by CoinDesk, the Connecticut Democrat is demanding detailed records from Binance regarding its compliance controls, internal communications, and any exposure to sanctioned jurisdictions. The probe marks a significant escalation in U.S. scrutiny of the world’s largest crypto exchange and raises fresh questions about how global trading platforms enforce sanctions compliance in an increasingly complex regulatory environment.
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