The U.S. Treasury Department sent a letter to Binance requesting compliance explanations, possibly related to the investigation of cryptocurrency transactions with Iran

The U.S. Treasury Department has sent a letter to Binance, requesting compliance explanations regarding recent reports involving cryptocurrency transactions related to Iran and to strengthen regulatory cooperation.

It is reported that this move comes amid ongoing scrutiny by U.S. regulators over cross-border capital flows on cryptocurrency platforms. Previous investigations and media reports have indicated that Iran and related entities may be transferring funds through centralized exchanges, drawing the attention of the U.S. Treasury and Justice Departments.