Binance Faces Federal Probe Over Alleged Iran Sanctions Violations

US federal prosecutors are investigating Binance, the world's largest crypto exchange, for allegedly violating US sanctions on Iran by knowingly allowing certain trades to proceed.

The Manhattan U.S. Attorney's Office is leading the probe, with the DOJ's Criminal Division also involved in examining Binance's compliance controls and whether the exchange was aware of the transactions in question.

A separate civil forfeiture case targets $61 million in USDT held across 10 cryptocurrency addresses, which prosecutors allege came from black-market Iranian crude oil and petroleum sales intended to finance Iranian government and military bodies, including the Islamic Revolutionary Guard Corps.