Binance Hit With New Sanctions Probe Amid Ongoing Compliance Issues

Binance is facing a new US federal investigation into whether it violated sanctions on Iran. The Manhattan US Attorney's Office is leading the probe, and the Justice Department's Criminal Division in Washington is also involved.

The investigation centers on whether Binance's compliance systems failed to stop transactions connected to Iran. Prosecutors are trying to determine if Binance knowingly allowed this trading, but no specific transactions have been made public yet.

Binance has a zero-tolerance policy towards sanctions violations and is cooperating with law enforcement. The company has already pleaded guilty to sanctions and anti-money laundering violations in 2023 and paid over $4.3 billion in penalties.