US senator probes Binance over alleged Iran sanctions violations

U.S. Senator Richard Blumenthal, the ranking member of the Senate Homeland Security Committee, has launched an official investigation into Binance's alleged violations of Iran sanctions. According to The Block, Blumenthal has demanded that Binance submit internal documents related to service usage by Iranian residents and the dismissal of compliance personnel. The move follows earlier reports from The New York Times, Fortune, and The Wall Street Journal, which stated that Binance's compliance department had found evidence that partner firms Hexa Whale and Blessed Trust had facilitated money laundering for Iran and permitted transactions with Iranian government agencies.