US prosecutors probe Binance over potential Iran sanctions violations, Bloomberg reports
U.S. federal prosecutors are investigating whether cryptocurrency exchange Binance violated U.S. sanctions on Iran by failing to block certain trading activity on its platform, according to a report by Bloomberg News.
Federal prosecutors are investigating whether Binance violated U.S. sanctions against Iran by not halting certain trading activity, Bloomberg News reported citing people familiar with the matter. The probe is being handled by the Manhattan U.S. Attorney's Office, with the U.S. Department of Justice's criminal division in Washington also participating. Authorities are examining whether the exchange knowingly allowed the Iran-linked transactions to occur.[1][2][5][6]
The inquiry is focused on Binance's compliance controls and whether the exchange had awareness of the trades. The investigation remains ongoing, and no official findings or charges against Binance have been announced. In response, Binance stated that it maintains a zero-tolerance policy toward sanctions violations and fully cooperates with law enforcement.[2][3][4][5][7]
The reported scrutiny comes after the U.S. government sought to seize roughly $61 million in cryptocurrency allegedly connected to Iranian oil sales, an action that does not accuse Binance of wrongdoing. Binance previously pleaded guilty in 2023 to anti-money-laundering, unlicensed money-transmission, and sanctions violations, agreeing to pay approximately $4.3 billion in penalties.[4][5]
Key facts
- U.S. federal prosecutors are investigating whether Binance violated U.S. sanctions by failing to stop or knowingly permitting Iran-linked transactions on its platform, Bloomberg reported.
- The probe is led by the Manhattan U.S. Attorney's Office, with the Justice Department's criminal division in Washington also involved.
- Investigators are focusing on Binance's compliance controls and whether the company knowingly allowed the transactions to proceed.
- Binance stated that it has a zero-tolerance policy for sanctions violations and cooperates fully with law enforcement.
- The inquiry is ongoing, and Binance has not been charged or found guilty in the matter.
- Binance previously pleaded guilty in 2023 to anti-money-laundering, unlicensed money-transmission, and sanctions violations, agreeing to pay about $4.3 billion.
- A separate U.S. forfeiture action seeking roughly $61 million in crypto tied to Iranian oil sales does not accuse Binance of wrongdoing.
Sources · 7 sources
- BL
Bloomberg@businessPost on X ·
Federal prosecutors are investigating whether Binance, the operator of the world’s biggest crypto exchange, violated US sanctions on Iran by not stopping certain trading on its platform, according to sources https://t.co/4T4fu9Vul0
Open source - BS
BSCN@BSCNewsPost on X ·
Binance Faces Fresh US Scrutiny Over Iran Sanctions US federal prosecutors are investigating whether Binance violated sanctions on Iran through certain trading activity. Bloomberg reported that the probe is being led by the Manhattan US Attorney’s Office. The Justice Department’s criminal division in Washington is also involved in the investigation. Authorities are examining whether Binance knowingly allowed the trading, according to people familiar with the matter. Binance said it has zero tolerance for sanctions violations and fully cooperates with law enforcement. Source: Bloomberg
Open source - C®
CryptoSavingExpert ®@CryptoSavingExpPost on X ·
🚨 BINANCE FACES A NEW U.S. PROBE U.S. federal prosecutors are reportedly investigating whether Binance allowed trading activity linked to Iran that may have breached U.S. sanctions, according to Bloomberg. The investigation is still ongoing and no findings have been announced.
Open source - CP
Crypto Patel@CryptoPatelPost on X ·
BINANCE UNDER U.S. SCRUTINY OVER IRAN SANCTIONS 🇺🇸 WHAT HAPPENED? U.S. prosecutors are reportedly investigating whether Binance knowingly allowed certain Iran-linked trading activity that may have violated U.S. sanctions. WHY IT MATTERS: The investigation comes shortly after the U.S. government sought to seize around $61M in crypto allegedly linked to Iranian oil-sale proceeds. KEY QUESTION: Prosecutors are examining whether Binance knew about the activity and failed to stop it despite its sanctions-compliance obligations. IMPORTANT: Binance has not been charged or found guilty in this new investigation. The separate $61M forfeiture case also does not accuse Binance of wrongdoing.
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Breaking: U.S. Prosecutors Probe Binance Over Possible Iran Sanctions Violations U.S. federal prosecutors are investigating whether Binance, the world’s largest crypto exchange, violated U.S. sanctions on Iran by knowingly allowing certain transactions to proceed, Bloomberg reported, citing people familiar with the matter. The probe is being handled by the Manhattan U.S. Attorney’s Office and is focused on Binance’s compliance controls and whether it was aware of the transactions. Binance previously pleaded guilty in 2023 to anti-money-laundering, unlicensed money-transmission and sanctions violations, agreeing to pay about $4.3 billion.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
BREAKING: Binance faces a U.S. investigation over potential Iran sanctions violations Manhattan federal prosecutors and the DOJ’s criminal division in Washington are reportedly examining whether Binance failed to block certain transactions linked to Iran. https://t.co/inyX4G1MNi
Open source - LS
Laura Shin@laurashinPost on X ·
🚨 Manhattan federal prosecutors are reportedly examining whether Binance let sanctioned Iran-linked trades slide through its platform. The DOJ's criminal division is involved. Binance says it has "zero-tolerance" for sanctions violations. https://t.co/ee1C7z6iAH
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