Binance Faces US Scrutiny Over Iran Sanctions Violations
US prosecutors are investigating Binance for possible Iran sanctions violations and trading activity on its platform. The investigation is being led by federal prosecutors in Manhattan and Washington.
A source with knowledge of the matter said investigators are scrutinizing whether Binance knowingly allowed the trading that violated the sanctions.
Binance stated it has a zero-tolerance approach to sanctions violations, saying 'We fully cooperate with law enforcement, and we remain committed to rooting out and shutting down bad actors.'
The US government has imposed sanctions on firms and individuals helping Hezbollah and other Iranian proxies in the Middle East, intensifying its campaign to isolate Iran economically.
Earlier this month, the US Attorney's Office sought the forfeiture of millions of dollars in Iranian oil sales that had been laundered on Binance's crypto exchange.