Commodities
Binance Used to Launder Iranian Oil Money, US Accuses China-Based Firms
The US Department of Justice has accused two China-based companies of using Binance accounts to launder money from the illegal sale of Iranian crude oil and petroleum products.
Prosecutors are seeking to seize approximately $61 million in cryptocurrency allegedly linked to sanctioned oil sales.
A wider crypto network is said to have moved over $1.5 billion in illicit proceeds to Iran-linked entities, according to the US Department of Justice.