Democratic members of the U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter to Treasury Secretary Scott Bessent and Attorney General Pam Bondi urging a prompt, comprehensive inquiry into Binance Holdings Ltd.’s sanctions compliance and anti-money laundering controls, including whether it is complying with its 2023 Department of Justice plea agreement and related Treasury settlements. The letter cited reporting alleging that USD 1.7 billion in digital assets flowed through Binance to Iranian entities tied to terrorism, including the Houthis and Iran’s Islamic Revolutionary Guard Corps, and that a Binance vendor routed USD 1.2 billion to Iran-linked entities. It also referenced allegations that Iranians accessed more than 1,500 Binance accounts, the platform may have been used in connection with Russian sanctions evasion, compliance personnel were fired after uncovering links to Iranian entities, and Binance has become less cooperative with law enforcement information requests. Committee Democrats asked Treasury and DOJ to examine potential retaliation against compliance staff and adherence to settlement undertakings, and highlighted Binance’s recent business links to President Donald Trump and his family, including promotion of the USD1 stablecoin issued by World Liberty Financial, technology support for USD1, and acceptance of a USD 2 billion investment made in the token. The senators requested a response by March 13, 2026 describing any steps Treasury and DOJ have taken to review Binance’s conduct and the allegations raised in the letter.

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