Senator Richard Blumenthal sent a formal records request and opened an oversight inquiry into Binance after media reports alleged Iran-linked crypto flows and the suspension or dismissal of internal investigators. The inquiry seeks documents on sanctions-related investigations and personnel actions tied to compliance staff.

Senator Richard Blumenthal’s office initiated a congressional oversight inquiry into Binance in response to media reports alleging the exchange allowed substantial crypto flows to Iran-linked entities and took adverse personnel actions against internal investigators. The formal request for records asks Binance to produce documents related to any internal probes into Iran or Russia-linked activity, communications concerning sanctions compliance, and records relating to the suspension or dismissal of employees who raised compliance concerns. The letter frames the situation as a potential sanctions-evasion and compliance breakdown with national security implications and requests timely production of materials to inform possible further congressional action. The inquiry reflects heightened legislative scrutiny over whether major crypto platforms possess effective anti-money-laundering and sanctions controls, and whether accountability mechanisms protect compliance personnel. Blumenthal’s move follows parallel regulatory interest and reporting that tied approximately 1.7 billion dollars in transfers to Iran-linked wallets. The senator’s office indicated that the document production will determine whether committee hearings or additional subpoenas are necessary to assess the adequacy of Binance’s compliance posture and internal governance.