The U.S. Department of the Treasury has reportedly demanded Binance comply with a monitoring program tied to its 2023 settlement. This follows allegations the exchange facilitated roughly $1 billion to entities linked to Iran. Former CEO Changpeng Zhao, pardoned in 2025, recently stated he has no plans to lead another crypto firm.
The U.S. Department of the Treasury has privately demanded that Binance adhere to a monitoring program required under its 2023 settlement with authorities. This demand follows reports that the crypto exchange facilitated around $1 billion to entities tied to Iran.
A earlier deal included a $4.3 billion settlement with the Treasury and Justice Departments. It mandated a three-year monitoring program overseen by government officials.
Reports indicate Binance fired individuals who informed executives about the Iran-linked fund flows. A group of U.S. senators subsequently urged Treasury Secretary Scott Bessent to report on the exchange’s compliance.
A spokesperson for the exchange stated, “Binance is committed to cooperating with the independent monitor and our ongoing collaboration with relevant agencies.” The spokesperson added, “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.”
Binance‘s connections to the Trump administration have been scrutinized, particularly a $2 billion investment from a UAE-based entity. Former CEO Changpeng Zhao pleaded guilty to a felony charge as part of the 2023 settlement and was pardoned in October 2025.
Zhao appeared at a conference on Thursday, dismissing the idea of leading another cryptocurrency company. He said, “I don’t think I’ve got the stamina to run another startup, to lead another company.”
