U.S. Investigates Binance for Potential Iran Sanctions Violations
- Federal prosecutors are examining if Binance allowed trades that violated U.S. sanctions on Iran.
- The Manhattan U.S. attorney’s office and the Justice Department’s criminal division in Washington are leading the investigation.
- Binance previously pleaded guilty to failing to comply with U.S. banking and sanctions law, resulting in a $4.3 billion penalty.
- Internal reports indicated over $1 billion moved through Binance to Iran-linked entities, but Binance disputes these claims.
- Manhattan prosecutors recently sought forfeiture of $61 million allegedly laundered through Binance from Iranian black-market oil sales.
U.S federal prosecutors are investigating whether Binance failed to prevent trading activities that breached sanctions on Iran, involving significant financial transactions linked to Iranian entities. The investigation is being conducted by both the Manhattan U.S attorney’s office and the Justice Department’s criminal division in Washington.
This inquiry follows previous compliance issues faced by Binance, including a past $4.3 billion settlement for similar violations, highlighting ongoing scrutiny of its operations concerning U.S sanctions law compliance.
