Van Hollen, Warren, Gallego Statement on DOJ Investigating Binance Compliance with U.S. Sanctions Law

Today, U.S. Senator Chris Van Hollen (D-Md.), a member of the Senate Banking, Housing, and Urban Affairs Committee, the Committee's Ranking Member Elizabeth Warren (D-Mass.), and the Committee's Digital Assets Subcommittee Ranking Member Ruben Gallego (D-Ariz.) issued the following statement on a report that the U.S. Department of Justice is investigating whether digital asset firm Binance has violated U.S. sanctions laws by facilitating billions of dollars worth of transactions linked to Iran and its proxies tied to terrorism. This development comes after Senator Van Hollen, Ranking Member Warren, Senator Gallego, and all Democrats on the Banking, Housing, and Urban Affairs Committee urged Treasury Secretary Scott Bessent and Attorney General Pam Bondi to take this action.

"Binance has an established track record of putting profits ahead of the law. Recent reports raise serious concerns that the firm is again violating U.S. sanctions laws, recklessly helping bankroll the activities of terrorist groups connected to Iran. We will conduct oversight to ensure the Department of Justice conducts a serious investigation into Binance and holds the company accountable for any wrongdoing. This scrutiny is particularly important given recent reports that Binance is engaging in increasingly risky activity in countries through which illicit actors are known to evade U.S. sanctions and export controls."