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The US Senate warns Binance and Tether: documents due by January 4 or alternative measures will be activated
Senator Richard Blumenthal has sent formal letters to four cryptocurrency industry companies: Binance, Tether, World Liberty Financial, and Fight Fight Fight LLC. The request is for the voluntary submission of specific documents and records by January 4, 2027. The letters, dated November 5, set an intermediate deadline for confirmation of receipt on November 9 and the start of record production on November 30.
Why it matters
The action is part of the investigation conducted by the Senate Permanent Subcommittee on Investigations (PSI). Having won the majority in both chambers in the November 3 midterm elections, Democrats will take control of the committee in January. Blumenthal will become chairman of the PSI and has warned that those under investigation should be “on high alert.” According to the senator, non-compliance will leave the committee with only the option of considering alternative measures to ensure compliance, an implicit reference to mandatory subpoenas.
The requests concern specific operational and legal aspects. Among the requested documents are records related to alleged money laundering linked to Iran, possible retaliation against compliance staff, and payments made to consulting firms. For Tether, attention also focuses on Bo Hines, CEO of Tether US, who is a co-founder of the consulting firm Nxum, which is under investigation for payments received.
The numbers
The letters were sent to 4 crypto companies. The investigation conducted by the PSI minority before the new communications lasted approximately 18 months. The final deadline for voluntary submission is set for January 4, a date following the start of the new Congress scheduled for January 3.
What remains to be understood
The letters do not formally use the term “subpoena,” but explicitly threaten the adoption of alternative measures in case of non-compliance with deadlines. It is not confirmed whether the companies have actually produced the requested records in previous solicitations sent between February and October 2025/2026, as current correspondence states that no documents responding to the requests were produced. The PSI operating rules for the next Congress have not yet been adopted, leaving open the question of specific procedures that will be applied by the new committee chairman.
Sources: Cointelegraph, Unchained.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
* Content created with the assistance of artificial intelligence systems.