The US Treasury Department demanded Binance strengthen its compliance after media reports alleged that Iran was evading US sanctions through Binance, The Information reported. Earlier, The New York Times and The Wall Street Journal had raised suspicions that Iran was circumventing US sanctions and funding terrorist organizations through Binance. This demand is interpreted as a follow-up to the large settlement Binance reached with US authorities in 2023. At that time, Binance agreed to pay a $4.3 billion fine related to anti-money laundering and sanctions violations and promised to implement an independent compliance monitoring system. It appears the Treasury Department used these allegations as an opportunity to check if Binance is properly fulfilling its obligations under the previous agreement and demanded the blocking of Iran-related transactions and strengthening of internal controls.
