Binance Faces US Probe Over Possible Iran Sanctions Violations

U.S. authorities are investigating Binance over allegations of possible Iran sanctions violations, according to a source close to the matter.

The investigation is being led by federal prosecutors from the U.S. Attorney's Office in Manhattan and the Justice Department's criminal division in Washington.

Bloomberg News reported earlier that investigators are scrutinizing whether Binance knowingly allowed trading on its platform that violated U.S. sanctions on Iran.

Binance has a zero-tolerance approach to sanctions violations, the company stated, adding that it fully cooperates with law enforcement and remains committed to rooting out bad actors.