Binance appears to have ignored warnings and recommendations to prevent Iranian money laundering schemes on its cryptocurrency exchange, allowing $1.7 billion in transfers to Iran. [2] Additionally, Binance compliance found 2,000 accounts associated with Iranian entities on its cryptocurrency exchange,[3] despite restrictions on Iranian banking and Binance’s claim that it bans Iranian users. [5]Binance appears to have ignored clear warning signs, knowingly allowed illicit accounts to operate, and even provided hands-on support to entities engaged in money laundering. [16]Binance and other cryptocurrency exchanges have fostered and fueled a chilling escalation in terrorist money laundering that causes grave harm to American national security. Please produce all records related to the suspension and dismissal of compliance staff and investigators involved in investigations into illicit Iranian and Russian use of Binance services.

Source: Wall Street Journal February 24, 2026 20:54 UTC