(Bloomberg) — Binance, which agreed to a monitor while pleading guilty to US charges related to sanctions and anti–money-laundering violations almost three years ago, received a letter from the Department of the Treasury asking for interviews with employees of the crypto exchange and records to investigate potential sanctions violations, according to a person familiar with the matter.
“Binance is committed to cooperating with the independent monitor and our ongoing collaboration with relevant agencies,” the company said in a statement Thursday. “We welcome constructive feedback from the Treasury and view this oversight as an important part of continuously strengthening our compliance and anti-money laundering controls. We are providing the monitor with full cooperation and transparency.”
The Treasury’s letter, dated April 19, followed media reports alleging that the Iranian regime passed some of its funds through Binance, the world’s’ largest crypto exchange. US Senator Richard Blumenthal opened an inquiry into the company in February. The US Department of Justice has been investigating cryptocurrency-related financial flows to Iran, Bloomberg reported earlier.
Binance responded to the Treasury letter on April 28, and promised its full cooperation, according to the person familiar, who asked for anonymity because the correspondence hasn’t been made public. Binance didn’t comment beyond the statement. The Information first reported the Treasury letter.
The Treasury Department didn’t immediately return a request for comment.
In 2023, Binance agreed to pay $4 billion to resolve the sanctions and anti–money-laundering violations charges. The exchange’s co-founder, Changpeng Zhao, resigned his chief executive post and pled guilty as well. Zhao spent four months in jail. He was pardoned last year by President Donald Trump.
Binance’s chief compliance officer, Noah Perlman, is looking to leave, and other senior compliance staff have departed, Bloomberg reported earlier.
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