Overview
- U.S. Treasury sent Binance a private letter demanding full cooperation with its court-ordered monitor and seeking staff interviews and records tied to possible sanctions breaches.
- The letter followed reports alleging more than $1 billion in 2024–2025 crypto transfers to Iran-linked entities, with some findings pointing to wallets connected to Iran’s Revolutionary Guard.
- Binance said it is working with the independent monitor and relevant agencies, pledging full transparency and faster responses as it strengthens anti-money-laundering controls.
- The monitorship stems from Binance’s 2023 plea and $4.3 billion settlement, which installed Forensic Risk Alliance’s Frances McLeod for a three-year DOJ term and Sullivan & Cromwell’s Sharon Cohen Levin for a five-year FinCEN review.
- No new enforcement action has been announced, though a Justice Department review and Senate inquiries led by Richard Blumenthal keep pressure on Binance’s sanctions compliance.