DOJ, FinCEN face questions over Binance monitorships and Iran activity
Lawmakers demand accountability as Binance faces scrutiny over Iran-linked transactions and compliance lapses.
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Add us on Google by Vivian Nguyen Apr. 17, 2026The Justice Department and Treasury’s Financial Crimes Enforcement Network are being pressed by lawmakers over their supervision of Binance amid allegations that it helped route illicit transactions tied to Iran-linked entities.
According to Fortune, Senator Richard Blumenthal sent letters to the DOJ and FinCEN seeking answers about two monitors tasked with overseeing Binance’s compliance efforts.
The monitors were put in place after Binance’s 2023 settlement with US authorities, which included a $4.3 billion fine and required stronger anti–money laundering controls.
The letters follow allegations that nearly $2 billion in crypto flowed through Binance to Iran-linked entities during the period those monitors were supposed to be watching.
Furthermore, at least five of those compliance investigators were reportedly fired in late 2025. However, Binance said the terminations had nothing to do with the Iran findings and that the exchange runs a rigorous compliance operation.
Blumenthal is also examining Binance over those claims. In a February letter to the exchange’s CEO Richard Teng, he requested transaction records, details on assets such as Tether and USD1, and documentation on staff dismissals.
Last month, the DOJ launched an investigation into whether Iran used Binance to evade US sanctions and fund militant groups, The Wall Street Journal reported. Investigators are reportedly speaking with individuals connected to the transfers and reviewing evidence tied to funds allegedly moving through the exchange.
The scope of the probe remains uncertain, including whether Binance itself will face enforcement action or whether the focus will be limited to its users.
In response, the exchange sued the WSJ for publishing a false and defamatory story that led to the DOJ probe.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.