Binance under US investigation for potential Iran sanctions violations

Binance Iran sanctions cryptocurrency regulation US Department of Justice Manhattan US Attorney

US federal prosecutors are investigating whether the cryptocurrency exchange Binance violated US sanctions on Iran. The probe, led by the Manhattan US Attorney’s Office and the Department of Justice’s criminal division, is examining whether the platform knowingly allowed transactions involving sanctioned Iranian entities.

This investigation follows a previous 2023 settlement in which Binance and its former CEO, Changpeng Zhao, agreed to pay $4.3 billion to resolve anti-money laundering and sanctions violations. Recent reports also highlight a civil forfeiture case involving $61 million in cryptocurrency allegedly linked to the black market sale of Iranian oil.

Binance has stated it maintains a ‘zero-tolerance’ policy regarding sanctions violations and is cooperating fully with law enforcement. The company has previously faced scrutiny regarding the dismissal of compliance investigators who raised concerns about large payments from Hong Kong-based firms to wallets allegedly tied to sanctioned groups.

Entities

Binance · Changpeng Zhao · Iran · Manhattan U.S. Attorney's Office · Manhattan U.S. Attorney’s Office · U.S. Department of Justice

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] The Manhattan US Attorney's Office recently sought the forfeiture of $61 million in cryptocurrency linked to illegal Iranian oil sales. blockcast.it · banker.az
[● 2 SOURCES] The current investigation is focused on potential violations and does not constitute a formal criminal charge. blockcast.it · financiarul.ro
[● 6 SOURCES] Authorities are investigating whether Binance knowingly allowed transactions that violated US sanctions on Iran. blockcast.it · banker.az · srnnews.com · financiarul.ro · kayhanlife.com · +1 more
[● 7 SOURCES] Binance maintains a zero-tolerance policy for sanctions violations and is cooperating with law enforcement. blockcast.it · banker.az · www.lebardegandi.net · srnnews.com · financiarul.ro · +2 more
[● 7 SOURCES] US federal prosecutors are investigating whether Binance violated sanctions on Iran by failing to prevent certain trading activity on its platform blockcast.it · banker.az · www.lebardegandi.net · srnnews.com · financiarul.ro · +2 more
[● 4 SOURCES] In 2023, Binance reached a $4.3 billion settlement with US authorities regarding anti-money laundering violations. banker.az · srnnews.com · kayhanlife.com · gizmodo.com
[● 2 SOURCES] Binance reportedly suspended compliance investigators who raised concerns regarding $1.7 billion in payments from Hong Kong-based companies. www.lebardegandi.net · gizmodo.com
[● 7 SOURCES] The investigation is being led by the Manhattan US Attorney’s Office and the DOJ’s criminal division. blockcast.it · banker.az · www.lebardegandi.net · srnnews.com · financiarul.ro · +2 more