Binance Accounts Tied to $61M Iran-Linked Crypto Under US Scrutiny
The US authorities have set their sights on $61 million in cryptocurrency funds linked to Iran. The assets are allegedly tied to Binance accounts, and the action marks a significant escalation of efforts to crack down on illicit activity in the crypto space.
Binance has been at the center of controversy in recent months due to concerns over its lax anti-money laundering (AML) controls and ties to high-risk jurisdictions. The exchange has repeatedly denied any wrongdoing, but this latest development is likely to add fuel to the fire.
The move comes as part of a broader effort by US authorities to target cryptocurrency funds linked to Iran. In 2019, the US Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on several individuals and entities for their alleged involvement in illicit cryptocurrency activities.