Binance Faces Fresh Iran Sanctions Probe
The world's largest cryptocurrency exchange, Binance, is facing fresh scrutiny from U.S. prosecutors over potential Iran sanctions breaches.
According to sources, federal prosecutors are investigating whether Binance knowingly allowed certain transactions related to Iranian trading activity on its platform, which could be a violation of U.S. sanctions.
The probe is being led by the Manhattan U.S. Attorney's Office and involves examination of Binance's compliance controls and awareness of the trading activity in question.
This investigation comes after Binance reached a $4.3 billion settlement with the Department of Justice (DOJ) in 2023, which only covered specific conduct described in its Statement of Facts and did not protect the exchange against prosecution for other conduct.