The US Justice Department is investigating whether Binance Holdings Ltd. has adhered to the terms of its 2023 settlement agreement with the US government. Authorities are examining the platform for possible violations of Iran sanctions, raising concerns about compliance with the earlier accord.
Tysen Duva, head of the DOJ’s criminal division, confirmed in a recent interview that officials were reviewing Binance’s compliance with the 2023 agreement. He declined to provide specifics or confirm any violations but noted that the settlement included a $4.3 billion penalty, a guilty plea for violating banking rules, and stricter compliance measures.
The settlement in question was a landmark agreement, under which Binance accepted significant penalties and agreed to enhance its regulatory oversight. The current probe highlights ongoing scrutiny of the cryptocurrency exchange’s operations, particularly regarding international sanctions compliance.