US senator calls on Treasury to monitor Binance compliance

U.S. Senator Richard Blumenthal has sent a letter to the Treasury Department's Financial Crimes Enforcement Network (FinCEN) requesting information on Binance's regulatory compliance. According to Cointelegraph, the senator pointed to allegations that the exchange's anti-money laundering measures are "dangerously lax." The letter follows Binance's earlier guilty plea to anti-money laundering and sanctions violations brought by U.S. regulators, which resulted in a $4.3 billion fine. As part of that settlement, Binance agreed to comply with monitoring and reporting requirements set by U.S. authorities.