U.S. Senate Democrats Urge Treasury and DOJ to Investigate Binance Over Financial Controls

A group of Democratic senators in the United States has formally called upon the Treasury Department and the Department of Justice (DOJ) to launch an investigation into cryptocurrency exchange Binance. The lawmakers are specifically concerned about the platform's controls against illicit finance and potential violations of anti-money laundering (AML) and sanctions laws. In their request, the senators cited reports suggesting Binance's systems may have been used to facilitate transactions for terrorist groups. This move increases regulatory pressure on one of the world's largest crypto exchanges, highlighting ongoing scrutiny of compliance standards within the digital asset industry. The outcome of any potential probe could have significant implications for Binance's operations and the broader regulatory landscape for cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).