US Treasury demands Binance comply with 2023 monitoring programme
Updated
Updated · The Information · May 7
US Treasury demands Binance comply with 2023 monitoring programme
13 articles · Updated · The Information · May 7
A recent Treasury letter followed reports that more than $1bn reached Iran-linked entities in 2024 and 2025 and ordered interviews with compliance chief Noah Perlman and other executives.
The department cited monitor concerns about Binance's cooperation, data sharing and staff access, while Binance said it recognises past issues and is committed to working with the independent monitor.
The move marks the first publicly reported aggressive Trump administration step toward Binance since its 2023 $4.3bn settlement, as Washington intensifies pressure on Iran's shadow banking and crypto networks.
With a US monitor already in place, how did over $1 billion in illicit funds flow through Binance to Iran?
Why were Binance investigators who uncovered $1.7B in illicit Iran-linked funds reportedly dismissed by the exchange?
How does a $2B investment in a stablecoin tied to the Trump family impact Binance's standing with US regulators?
In May 2026, the U.S. Treasury demanded stricter compliance from Binance after investigative reports revealed $1.7 billion in transactions linked to Iranian entities, including terrorist groups. This triggered a Congressional inquiry and intensified the Justice Department's ongoing probe. Despite Binance's denial of wrongdoing and claims of strong compliance, internal investigations uncovered significant lapses, including access by Iranian actors to over 1,500 accounts and delayed action against high-risk vendors. These issues arose while Binance was under a monitorship from a 2023 settlement for prior violations. The crisis highlights Binance's growing legal and reputational risks amid a global regulatory crackdown, pushing the entire crypto industry toward stricter enforcement and compliance standards.