Sen. Richard Blumenthal (D-Conn.) has asked the Justice Department and FinCEN for updates on the status of monitors overseeing Binance, citing concerns about the exchange’s compliance program and allegations of weak anti-money laundering controls, according to Fortune reporting. 

In letters sent Friday, Blumenthal referenced reports of Iranian-linked crypto flows and questioned whether Binance’s oversight structure is functioning as intended. 

As part of a 2023 settlement tied to sanctions and money laundering violations, the exchange agreed to pay a $4.3 billion fine and accept two independent monitors — one reporting to the DOJ and another to FinCEN — to oversee its…

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