The US Department of the Treasury has privately demanded that Binance, the world's largest cryptocurrency exchange by trading volume, demonstrate compliance with a monitoring programme imposed as part of its $4.3 billion settlement with federal authorities in 2023.
The intervention, first reported by The Information, followed accounts that more than $1 billion flowed through the platform to entities linked to Iran between 2024 and 2025.
Treasury Under Secretary for Terrorism, Gene Lange, reminded the exchange of its obligation to cooperate fully with the monitoring programme, including by sharing critical data records and documents in a timely manner, according to the report.
The recap
- US Treasury privately demanded Binance follow its monitoring program.
- Deal required a three-year monitoring program and $4.3 billion settlement.
- Senators asked Treasury Secretary Scott Bessent for a compliance report.