Eleven U.S. senators have requested a federal probe into Binance's sanctions compliance, according to reports. The lawmakers are urging U.S. regulators to review Binance’s anti-money laundering (AML) and sanctions controls. This request follows reports of Iran-linked transactions and potential evasion risks associated with the cryptocurrency exchange. The senators are concerned about the exchange's adherence to regulations and the potential for illicit activities on the platform. The development highlights increasing scrutiny of cryptocurrency exchanges and their compliance with financial regulations.

Eleven U.S. senators have requested a federal probe into Binance's sanctions compliance, according to reports. The lawmakers are urging U.S. regulators to review Binance’s anti-money laundering (AML) and sanctions controls. This request follows reports of Iran-linked transactions and potential evasion risks associated with the cryptocurrency exchange. The senators are concerned about the exchange's adherence to regulations and the potential for illicit activities on the platform. The development highlights increasing scrutiny of cryptocurrency exchanges and their compliance with financial regulations.