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>>US Treasury Gives Binance a Final Warning on Over $1 Billion in Iran-Related Transactions.

US Treasury Gives Binance a Final Warning on Over $1 Billion in Iran-Related Transactions.

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Treasury Ultimatum

The U.S. Treasury Department has issued a private ultimatum to Binance, demanding compliance with post‑2023 oversight measures. The warning follows reports that billions of dollars in cryptocurrency may have been routed through Binance to Iran‑linked entities in 2024‑2025. Estimates of the illicit flow vary, with some sources citing roughly $1.7 billion. The Treasury’s action underscores heightened regulatory pressure on the exchange.

Senatorial Inquiry

Senator Richard Blumenthal opened a formal investigation into Binance and co‑CEO Richard Teng over the alleged sanctions breaches. His letter accused the platform of enabling large‑scale violations of U.S. and international sanctions tied to Iran. Blumenthal reiterated the $1.7 billion figure and claimed Binance ignored prior warnings about Iranian money‑laundering schemes. The inquiry adds political scrutiny to the financial regulator’s concerns.

Binance Response

Binance says it is fully cooperating with the Treasury’s monitoring program and other relevant agencies. A spokesperson told The Block that the firm is providing complete transparency and prompt data sharing. The exchange also acknowledged past compliance failures and pledged to improve transparency and response speed. Treasury Under Secretary for Terrorism Gene Lange emphasized the necessity of timely record submission.

US Treasury Gives Binance a Final Warning on Over $1 Billion in Iran-Related Transactions.

Treasury Ultimatum

Senatorial Inquiry

Binance Response

US Treasury Gives Binance a Final Warning on Over $1 Billion in Iran-Related Transactions.