U.S. federal prosecutors are investigating whether Binance Holdings Ltd. violated American sanctions on Iran by failing to stop certain transactions on its platform, according to Bloomberg, which cited people familiar with the matter. The report said the compliance-focused probe is being handled by the U.S. Attorney’s Office in Manhattan. One person familiar with the case also said the Justice Department’s criminal division in Washington is involved. Authorities are examining whether Binance knowingly allowed the transactions to go through despite being aware of them. The report frames the matter as an ongoing investigation into whether the exchange’s controls and oversight were sufficient under U.S. sanctions rules.
U.S. federal prosecutors are investigating whether Binance Holdings Ltd. violated U.S. sanctions on Iran by failing to stop certain transactions on its platform, Bloomberg reported, citing people familiar with the matter.
The report said the investigation into Binance’s compliance practices is being led by the U.S. Attorney’s Office in Manhattan. One person familiar with the case said the Justice Department’s criminal division in Washington is also involved.
Authorities are focused on whether Binance knowingly allowed the transactions to proceed.
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