US Authorities Step Up Pressure on Binance Over Potential Sanctions Violations

The US Treasury has reportedly asked Binance to comply with a monitoring program tied to its 2023 settlement with US authorities, which included a $4.3 billion penalty and mandated three years of regulatory oversight by the Treasury and Justice Department.

The renewed scrutiny comes after reports that roughly $1 billion may have flowed through Binance to Iran-linked entities. Those claims were followed by allegations that employees who raised concerns about the transactions were dismissed.

In response, several US senators have called for a fresh review of Binance’s compliance with the settlement terms. Binance says it is cooperating with regulators and working with the independent monitor overseeing the agreement.

Source: The Information