Editor’s note: the story has been updated with a comment by Binance.
Sen. Richard Blumenthal (D-Conn.) sent letters Friday to the Justice Department and Treasury demanding answers by April 24 on Binance’s (CRYPTO: BNB) compliance monitors after over $1.7 billion flowed through the exchange to Iran-linked wallets.
The Monitor Question
Blumenthal specifically asked about the status of monitors Binance had to install after the exchange pleaded guilty in November 2023 to failing to register as a money transmitting business and breaching sanctions.
The exchange agreed to pay over $4 billion in penalties and retain an independent compliance monitor for three years.
“I am writing with concern over mounting allegations of dangerously lax anti-money laundering prevention by Binance,” Blumenthal said in the letters.
Frances McLeod, the Justice Department’s chosen monitor and a founding partner at consulting firm Forensic Risk Alliance, did not immediately respond to a request for comment.
Neither did Sharon Cohen …
