Blumenthal Presses Trump DOJ & Treasury Department on Binance's Lax Anti-Money Laundering Compliance

[WASHINGTON, D.C.] - U.S. Senator Richard Blumenthal (D-CT), Ranking Member of the U.S. Senate Permanent Subcommittee on Investigations (PSI), today wrote to Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki and Acting Attorney General Todd Blanche raising concerns over mounting allegations of dangerously lax anti-money laundering prevention by the cryptocurrency exchange, Binance.

In letters sent today to Gacki and Blanche, Blumenthal demanded records and information related to Binance's compliance with anti-money laundering obligations under settlements the company previously reached with FinCEN and the DOJ.

"In early 2026, reporting stated that Binance had facilitated billions of dollars of sanctions evasion for Iran-linked entities. These reports raise questions regarding the extent to which the company has adhered to its 2023 settlements. As part of the Subcommittee's ongoing inquiry into illicit finance in cryptocurrency, I am writing to request information on the status of Binance's compliance obligations," Blumenthal wrote.

Earlier this year, Blumenthal opened a PSI inquiry into the illicit use of cryptocurrencies by sanctioned entities. After Binance failed to provide PSI with documents and information about reported money laundering and terrorist financing by its partners and customers, Blumenthal pressed Binance about potential misrepresentations or misleading information the company may have provided to the Subcommittee.

Blumenthal's letter to Gacki is available here. Blumenthal's letter to Blanche is available here.

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