TechFlow News, February 25: According to The Block, Senator Richard Blumenthal, Democratic leader of the U.S. Senate Homeland Security Committee’s investigative subcommittee, has launched an investigation into cryptocurrency exchange Binance over reports suggesting the platform may have violated sanctions.
Per reports from The New York Times, Fortune, and The Wall Street Journal, Binance’s compliance personnel discovered that two of the exchange’s partners—Hexa Whale and Blessed Trust—acted as money-laundering intermediaries and facilitated transactions with Iranian government entities. Blumenthal has demanded that Binance CEO Richard Teng submit records related to “Iranian individuals using Binance” as well as documents concerning the dismissal of compliance staff.
