The US Treasury Department has sent a letter to Binance demanding employee interviews and records related to potential sanctions violations, the latest pressure on the crypto exchange which remains under a court-appointed monitor.
The letter, dated April 19, follows reports alleging that over $1 billion in Iran-linked cryptocurrency moved through Binance. The exchange says it is cooperating fully with its independent monitor and relevant agencies.
This scrutiny adds to an ongoing inquiry by Senator Richard Blumenthal, who in April asked the DOJ and Treasury for details on Binance's compliance monitorship. In March, the Wall Street Journal reported the Justice Department is investigating Iran's use of Binance to evade sanctions.
Binance's oversight stems from its 2023 guilty plea to anti-money laundering and sanctions violations, agreeing to $4.3 billion in penalties. Founder Changpeng Zhao also pleaded guilty, paid a $50 million fine, and served four months in prison.
The Treasury's move comes as Binance has seen turnover among senior compliance staff, including chief compliance officer Noah Perlman, who has discussed leaving the company.