Binance (CRYPTO: BNB) has told Sen. Richard Blumenthal’s (D-CT) Permanent Subcommittee on Investigations that an internal review found no direct transactions between its platform and Iranian entities.

Media reports alleging $1.7 billion in Iran-linked flows are “demonstrably false” and “defamatory,” according to Binance.

The Senate Probe

Blumenthal opened an inquiry in February, following allegations that two Binance partners, Hexa Whale and Blessed Trust, acted as middlemen for money laundering and allowed trade with Iranian government entities, Coindesk reported on Friday.

The Times reported Binance’s internal investigators discovered more than 1,500 accounts accessed from Iran…

Read more on Benzinga