US senators urge investigation into Binance over Iran sanctions

Amid reports of Binance's potential violations of sanctions against Iran, a group of 11 Democratic U.S. senators led by Chris Van Hollen has urged Attorney General Pam Bondi and Treasury Secretary Scott Bessent to investigate the exchange. According to The Block, the senators sent a letter to the cabinet secretaries expressing concern about whether Binance has adequate safeguards to prevent the inflow of illicit funds. They called for a swift and comprehensive investigation into the company's sanctions compliance to ensure Binance does not violate the law again and threaten U.S. national security.