US Treasury Presses Binance to Honor 2023 Monitoring Deal

The US Treasury Department has privately pressed Binance to comply with the monitoring program it agreed to under its 2023 settlement with US authorities, after allegations surfaced that the exchange facilitated transactions involving Iran-linked funds.

Cointelegraph reported on May 7 that the Treasury recently sent Binance a letter demanding compliance with the monitoring program required under the 2023 agreement.

Binance reached a $4.3 billion settlement in 2023 with the US Department of Justice, the Treasury and other agencies. The exchange admitted at the time that it had violated anti-money laundering, or AML, rules and agreed to implement a three-year monitoring program under US oversight.

The Treasury's latest push followed reports alleging that about $1 billion moved through the Binance platform to Iran-linked groups.

US senators have also asked Treasury Secretary Scott Bessent to report on whether Binance is complying with the agreement.

Binance said it is cooperating with authorities over the allegations.

"We are working with the independent monitor and continue to coordinate with relevant agencies," a Binance spokesperson said. "We also welcome feedback from the Treasury."

The company added that it views the matter as part of its broader effort to strengthen AML controls and is providing full cooperation and transparency to the monitor.

Separately, Binance's ties to the family of US President Donald Trump have also come under scrutiny. A United Arab Emirates-based investment firm invested $2 billion in Binance using USD1, the stablecoin issued by World Liberty Financial, a project co-founded by the Trump family.

Trump also pardoned Binance founder Changpeng Zhao, known as CZ, in October 2025.