Binance Under Fire Again Over Iran Sanctions Probe
Federal prosecutors are investigating Binance for allegedly allowing Iran-linked money to move through its platform. The exchange, which operates the cryptocurrency BNB (CRYPTO:BNB), pleaded guilty in November 2023 to breaking anti-money-laundering and sanctions laws and paid $4.3 billion.
The current probe is focused on whether Binance's staff knew about the trades, as a criminal case typically requires proof that the company knowingly broke the rules rather than accidentally handled banned transactions.
Bloomberg Law and Reuters reported on September 21, 2026, that investigators are examining Binance's compliance controls. The Manhattan U.S. Attorney's Office is leading the probe, with help from the Justice Department's criminal division in Washington.
The investigation comes after a $61 million forfeiture complaint was filed by the same office on September 14. The lawsuit seeks to seize USDT, a dollar-pegged stablecoin, held in 10 wallets allegedly linked to two Chinese companies that used Binance trading accounts to move money from sales of sanctioned Iranian oil.
Binance says it removed one of the companies, Blessed Trust, from its platform in January 2026 after finding out where the company's money came from. The exchange claims its internal review found that about $126 million eventually reached wallets linked to Iran and up to $24 million reached wallets tied to Iran's Revolutionary Guard.
The investigation has raised concerns that if prosecutors find new sanctions breaches, they could argue Binance broke its 2023 plea agreement. This could lead to the extension of an independent monitor or even new charges. The monitor is due to end around May 2027.