Binance Under Fire for Possible Iran Sanctions Violations
Binance, the world's largest cryptocurrency exchange, is facing a US federal investigation into potential sanctions violations. The probe, led by the Manhattan US attorney's office and involving the criminal division of the US Department of Justice, examines whether Binance knowingly allowed trading activity that breached US sanctions on Iran.
The investigation comes after Binance faced a major US enforcement action in 2023, which resulted in its then-chief Changpeng Zhao stepping down and pleading guilty to violating US anti-money laundering laws as part of a $4.3 billion settlement.
The latest probe highlights the ongoing scrutiny faced by global cryptocurrency platforms over their ability to prevent sanctioned entities and jurisdictions from accessing financial services.