US Treasury ‘privately demanded’ Binance comply with monitoring deal: Report
Written by Turner Wright, Staff Writer. Reviewed by Robert Lakin, Staff Editor. Written by Turner Wright, Staff Writer. Reviewed by Robert Lakin, Staff Editor. US Treasury ‘privately demanded’ Binance comply with monitoring deal: ReportLatest NewsPublishedMay 7, 2026US Treasury officials reportedly sent a letter to Binance pressing the crypto exchange on compliance with a 2023 deal, after reports circulated that the company had facilitated transactions linked to Iran.
Update (May 7 at 9:47 PM UTC): This article has been updated to include a statement from Binance.
The US Department of the Treasury reportedly demanded that Binance follow a monitoring program put in place by a 2023 deal between authorities and the cryptocurrency exchange, following reports that the company facilitated $1 billion to entities tied to Iran.
According to a Thursday report by The Information, the Treasury Department “privately demanded” that Binance be in compliance with a monitoring program to which it had agreed after reaching a deal with US authorities in 2023. The deal, which included a $4.3 billion settlement with Treasury and the US Department of Justice, required Binance to comply with a three-year monitoring program overseen by government officials.
The reported letter from Treasury followed reports that Binance fired individuals responsible for telling the exchange’s executives that $1 billion flowed through the platform to entities tied to Iran. A group of senators followed, urging Treasury Secretary Scott Bessent to report on Binance’s adherence to the 2023 settlement.
“Binance is committed to cooperating with the independent monitor and our ongoing collaboration with relevant agencies,” a spokesperson for the exchange told Cointelegraph in response to the report. The spokesperson said:
“We welcome constructive feedback from the Treasury and view this oversight as an important part of continuously strengthening our compliance and anti-money laundering controls. We are providing the monitor with full cooperation and transparency.”
Binance’s ties to the Trump administration have come under scrutiny since a United Arab Emirates-based entity invested $2 billion in the crypto exchange using the USD1 stablecoin issued by World Liberty Financial, the company co-founded by US President Donald Trump and his sons. Trump also pardoned former Binance CEO Changpeng Zhao in October 2025.
Related: US authorities freeze $344M in crypto linked to Iran
Zhao pleaded guilty to one felony charge related to failure to maintain an anti-money laundering regime at Binance as part of the 2023 settlement.
Changpeng Zhao speaking at Consensus on Thursday. Source: Cointelegraph
Zhao rules out leading another crypto company
The Information’s report coincided with Zhao's appearance at the Consensus conference in Miami on Thursday.
The former CEO said he had been “trying to avoid [the] US” but floated the idea of revitalizing Binance.US to give users access to global liquidity. He also dismissed the idea of being in a leadership role at a crypto company again, having resigned as Binance CEO in November 2023.
“I don't think I’ve got the stamina to run another startup, to lead another company,” said Zhao. “I’m a one-trick pony. I’m okay with that level. I’m done.”
Magazine: Guide to the top and emerging global crypto hubs: Mid-2026
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.More on the subject
US Treasury ‘privately demanded’ Binance comply with monitoring deal: Report3 hours agoTurner Wright
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South Korea confirms 22% crypto tax starting January 2027: Report12 hours agoAmin HaqshanasUS Treasury ‘privately demanded’ Binance comply with monitoring deal: Report3 hours agoTurner WrightGermany weighs 2027 crypto tax overhaul as one-year holding rule under threat10 hours agoChristina CombenSouth Korea confirms 22% crypto tax starting January 2027: Report12 hours agoAmin Haqshanas
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