US Senators Call on the Justice Department to Open a Criminal Investigation Against Binance and Tether

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Republican senators have called on the U.S. Department of Justice to open a criminal investigation against Binance and Tether over their possible support for terrorism.

Wyoming State Senator Cynthia Lummis and Rep. CynthiaArkansas French Hill is demanding a "thorough assessment of the extent to which Binance and Tether are providingmaterial support and resources to support terrorism." 

"To this end, we strongly urge the Department of Justice to ensure that Binance and Tether cut off terrorist funding sources that are currently targeting Israel," the senators wrote.

The lawmakers asked Attorney General Merrick Garland to "make a decision on Binance's indictment that reflects their level of culpability and expeditiously complete the investigation into ongoing illegal activity involving Tether."

Both Tether and Binance have been in the crosshairs of regulators in the past year.The Commodity Futures Trading Commission (CFTC) has sued Binance and its CEO, Changpeng Zhao, for allegedly violating federal laws.In the complaint, the regulator stated that the exchange has a lax approach to compliance.

Tether recently froze 32 addresses,controlled by Hamas and Russia-linked organizations in Israel and Ukraine, lawmakers said, citing a Financial Times report. The day before, Binance blocked more than a hundred wallets at the request of the Israeli authorities.