A US lawmaker launched an inquiry into crypto exchange Binance after reports of processing $1.7 billion tied to sanctioned Iranian entities and Russia’s oil “shadow fleet.” Binance denies allegations, claiming strong compliance, and sharply cutting exposure to sanctioned jurisdictions. CEO criticized reports and demands retractions. Senate probe questions Binance compliance after 2023 settlement for AML violations.

Read more at CoinTelegraph: US Senator Probes Binance Over Alleged Iran, Russia Sanctions Breaches