Democratic Senator Richard Blumenthal sent letters to the U.S. Department of Justice and Treasury to inquire about the status of the independent compliance monitor that Binance was required to incorporate after pleading guilty in November 2023 to operating without a license as a money transmitter and violating international sanctions. The exchange agreed at the time to pay more than $4 billion in penalties and to retain an independent monitor for three years.
Blumenthal’s initiative responds to reports published by The New York Times, Fortune and The Wall Street Journal, which indicated that Binance allegedly facilitated billions of dollars in sanctions evasion for entities linked to Iran, with two partners of the exchange —Hexa Whale and Blessed Trust— operating as intermediaries in money laundering operations. According to those reports, compliance employees who investigated the Iranian transactions were disciplined or fired, although Binance rejected those claims.
Blumenthal, ranking Democrat on the Senate Permanent Subcommittee on Investigations, asked whether the monitor submitted reports of misconduct and requested related documentation. He also inquired about 2025 reports indicating that Binance was negotiating with the Department of Justice for an early exit from the monitorship. The letters were addressed to Andrea Gacki, director of FinCEN, and acting Attorney General Todd Blanche, with a response deadline set for April 24.
Source: https://fortune.com/2026/04/17/senator-blumenthal-binance-doj-fincen-treasury-monitorships-status/
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