U.S. federal prosecutors are investigating whether Binance Holdings Ltd., the operator of the world’s largest cryptocurrency exchange, violated U.S. sanctions on Iran by failing to stop certain trading activity on its platform, according to people familiar with the matter.0
The probe is being handled by the Manhattan U.S. attorney’s office, with involvement from the Department of Justice’s criminal division in Washington. Authorities are examining whether Binance knowingly permitted the trading.0
No charges have been filed, and the specific transactions under review have not been disclosed. Binance has stated that it maintains a “zero-tolerance policy for sanctions violations” and fully cooperates with law enforcement.3
The inquiry comes three years after Binance agreed to pay $4.3 billion in penalties to settle prior charges related to anti-money laundering and sanctions violations. It also follows a recent civil forfeiture action by the U.S. Attorney’s Office for the Southern District of New York seeking approximately $61 million in cryptocurrency tied to Iranian oil sales laundered through the platform, though that action does not charge Binance with wrongdoing.2
Binance has emphasized its ongoing compliance efforts and commitment to rooting out illicit activity.
