Three U.S. Democratic senators said they will oversee the Justice Department's investigation into Binance.

PANews reported on March 13 that, according to Cointelegraph, three US Democratic senators stated they will oversee the Justice Department's investigation into Binance's alleged violations of sanctions related to Iran. Senators Chris Van Hollen, Elizabeth Warren, and Ruben Gallego stated in a joint statement that they will oversee the investigation to ensure the Justice Department pursues its investigation into Binance and holds it accountable for any wrongdoing.

The Wall Street Journal reported on Wednesday, citing sources familiar with the matter, that the Justice Department is investigating whether Iran may have used Binance to circumvent sanctions. Senators stated that Binance has a history of prioritizing profits over the law, and the report has raised serious concerns that the company may again violate U.S. sanctions laws and fund activities by terrorist organizations linked to Iran. Binance previously responded that it was unaware of any investigation but has been cooperating with regulatory and law enforcement agencies in investigating the facts. Binance filed a lawsuit on Wednesday against a Wall Street Journal report from February, alleging defamation.