Binance Faces U.S. Probe Over Possible Iran Sanctions Violations
U.S. federal prosecutors are investigating Binance for allegedly violating Iran sanctions by knowingly allowing certain transactions to proceed, according to a report from Bloomberg cited by Reuters.
The Manhattan U.S. Attorney's Office and the Justice Department's Criminal Division in Washington are leading the inquiry, which centers on whether Binance had compliance controls in place to stop such transactions.
Bloomberg reported that prosecutors began examining Binance's practices nearly three years after its $4.3 billion federal settlement with U.S. authorities in November 2023.
As part of this settlement, Binance pleaded guilty to offenses involving the Bank Secrecy Act and agreed to a total criminal financial penalty of $4.316 billion, including retaining an independent compliance monitor for three years.