Blumenthal Demands Binance Monitor Records After Iran Claims

Sen. Richard Blumenthal pressed the Justice Department and the Treasury for documents on Binance’s court‑ordered independent compliance monitor and any misconduct or noncompliance reports after allegations that the crypto exchange enabled billions in Iran sanctions evasion. The senator sent the letter Friday and set a response deadline of April 24.

Blumenthal addressed the letter to Financial Crimes Enforcement Network Director Andrea Gacki and Acting U.S. Attorney General Todd Blanche. He asked for the monitor’s current status, copies of any reports the monitor submitted, communications about the monitor’s role, and records related to Binance’s adherence to its 2023 settlement terms.

Binance pleaded guilty in November 2023 to failing to register as a money transmitting business and to breaching sanctions. The company agreed to pay more than $4 billion in penalties and to retain an independent compliance monitor for three years. Binance’s former CEO Changpeng Zhao served four months in prison and was later pardoned by President Donald Trump in October.

The senator’s request follows reporting that alleged Binance allowed Iran‑linked entities to move billions of dollars and that two Binance partners acted as intermediaries in those transactions. Those reports also said some staff who investigated the Iran activity were disciplined or dismissed; Binance has disputed claims that employees were punished for raising concerns.

The letter states, “In early 2026, reporting stated that Binance had facilitated billions of dollars of sanctions evasion for Iran‑linked entities. These reports raise questions regarding the extent to which the company has adhered to its 2023 settlements.” Blumenthal asked whether the court‑appointed monitor remains in place and whether the monitor filed any misconduct or noncompliance reports. He also referenced earlier indications the company had sought to end the monitor’s oversight before the full three‑year term.

Binance declined to comment. The Justice Department and FinCEN did not immediately respond to requests for comment.

Blumenthal previously wrote to Binance CEO Richard Teng seeking information about potential sanctions violations. The senator is the top Democrat on the Senate Permanent Subcommittee on Investigations, which oversees probes of corporate compliance and criminal enforcement. His latest request seeks records that would show whether Binance has met the conditions of its 2023 settlement and whether regulators or the court‑appointed monitor have identified ongoing issues.