US prosecutors probe Binance for alleged violations of Iran sanctions
Federal investigators in Manhattan are examining whether Binance allowed prohibited trading linked to Iran, citing possible sanctions breaches.
Federal prosecutors in Manhattan, in coordination with the Justice Department's criminal division in Washington, have launched an investigation into Binance to determine if the exchange knowingly permitted trading that violated US sanctions on Iran. Binance issued a statement emphasizing its strict sanctions compliance stance and its willingness to work with law enforcement to eliminate illicit actors. The Department of Justice did not comment, and the Manhattan US attorney's office could not be reached promptly.
This inquiry adds to earlier US actions against Binance, notably the 2023 settlement in which former chief Changpeng Zhao pleaded guilty to anti-money-laundering violations. The probe comes amid a broader US sanctions campaign aimed at firms and individuals aiding Hezbollah and other Iranian proxies in the Middle East.
Why it matters
The case could affect how major crypto platforms enforce sanctions and impact the broader cryptocurrency market.
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