Binance Investigated for Alleged Iran Sanctions Violations

Binance is reportedly facing an investigation concerning possible violations of US sanctions on Iran, nearly three years after the cryptocurrency exchange settled a criminal case for $4.3 billion. Federal prosecutors are scrutinizing transactions that Binance allegedly did not prevent, including potentially allowing prohibited trading.

The inquiry is being handled by the Manhattan US attorney’s office, with involvement from the Justice Department’s criminal division in Washington. The specific transactions under examination have not been disclosed, leaving unclear the sums involved, the customers affected, or the compliance failures identified by prosecutors.

Binance has stated its commitment to a zero-tolerance policy regarding sanctions violations and emphasized its cooperation with law enforcement. The Justice Department has declined to comment on the matter, and the Manhattan prosecutor’s office was not reachable outside regular business hours.

An investigation can conclude without any charges being filed.