Binance Faces U.S. Probe Over Alleged Iran Sanctions Violations

U.S. federal prosecutors are investigating Binance, the world's largest cryptocurrency exchange, for potential Iran sanctions violations.

The investigation is being led by the U.S. Attorney's Office for the Southern District of New York and involves the Justice Department's criminal division in Washington.

Prosecutors are examining whether Binance knowingly permitted transactions that breached Iran-related sanctions.

Binance claims to have a 'zero-tolerance' policy toward sanctions violations and says it fully cooperates with law enforcement.

This probe comes days after U.S. prosecutors sought the forfeiture of about $61 million in cryptocurrency allegedly linked to black-market Iranian oil sales.