Update

A group of Democratic senators has asserted their intent to monitor a reported Justice Department investigation into potential sanctions violations by the cryptocurrency platform Binance. Senators Chris Van Hollen, Elizabeth Warren, and Ruben Gallego released a joint statement expressing their commitment to ensuring that the Justice Department “conducts a serious investigation into Binance and holds the company accountable for any wrongdoing.”

The Wall Street Journal noted that the department is examining how Iran may have utilized Binance to circumvent sanctions.

“Binance has a history of prioritizing profits over legal compliance,” declared the senators. They expressed grave concerns that the company may be disregarding U.S. sanctions laws, potentially enabling activities linked to terrorist organizations affiliated with Iran.

A spokesperson for Binance stated: “We are not aware of any such investigation,” emphasizing their ongoing cooperation with regulators and law enforcement.

Last month, the senators had called upon U.S. Treasury Secretary Scott Bessent and U.S. Attorney General Pam Bondi to probe Binance over the movement of funds associated with Iran.

Binance’s Legal Actions

Recently, Binance filed a lawsuit against the Wall Street Journal, contending that a previous article was defamatory. The article suggested that Binance dismissed personnel who alerted them to $1 billion worth of cryptocurrency related to sanctioned Iranian entities, such as the Houthis in Yemen and the Islamic Revolutionary Guard Corps.

Binance has asserted that it continues to comply with investigations, having recently pled guilty to violating U.S. anti-money-laundering laws, resulting in a significant fine and the condition of operating under U.S. oversight.

Former CEO Changpeng Zhao also pled guilty to charges related to money laundering and received a four-month prison sentence, later pardoned by U.S. President Donald Trump.

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