Gate News message, April 17 — U.S. Senator Richard Blumenthal (D-Connecticut) sent letters to the Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) on April 17, requesting clarification on the status of two compliance monitors overseeing a major cryptocurrency exchange.
According to previous reports, internal investigators at the exchange had warned executives that over $1 billion in funds flowed to Iran-related wallets, but were subsequently terminated. The exchange denied the dismissals were related to the investigation findings and stated that its compliance systems are rigorous. Notably, the DOJ has previously terminated independent monitoring requirements for Glencore and Boeing, raising questions about whether similar oversight mechanisms may be suspended for the major CEX in question.
The exchange was fined $4.3 billion in 2023 for deficiencies in anti-money laundering and sanctions compliance monitoring. The two compliance monitors were part of that settlement agreement.
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