Binance faces questioning from US senators regarding surveillance measures and Iranian-related financial flows.

A U.S. senator has sent letters to the Department of Justice (DOJ) and the Treasury Department, requesting an update on the compliance monitoring of Binance, after approximately $1.7 billion in Iran-related cryptocurrency funds flowed through the platform. The senator questions whether existing monitoring and sanctions compliance measures are sufficient to identify and block Iran-related transactions and demands that regulators disclose specific progress on Binance's subsequent enforcement and remediation arrangements.