The U.S. Department of Justice is reviewing whether Binance has complied with the settlement it reached with U.S. authorities in 2023. The review is focused on transactions after that agreement that may have violated U.S. sanctions on Iran, including whether Binance allowed transactions to pass through that its own systems should have blocked. The matter is being led by the Manhattan U.S. Attorney’s Office and the Justice Department’s criminal division. It involves a Hong Kong entity accused of helping move proceeds from Iranian oil sales. Binance said it has zero tolerance for sanctions violations. In 2023, the exchange pleaded guilty, agreed to pay more than $4.3 billion in penalties and forfeitures, and accepted compliance monitoring.
The U.S. Department of Justice is reviewing whether Binance has complied with the settlement it reached with U.S. authorities in 2023, according to Odaily. The review is centered on post-settlement transactions that may have breached U.S. sanctions on Iran, including whether Binance allowed transactions to go through that its systems were supposed to block.
The review is being led by the Manhattan U.S. Attorney’s Office and the Justice Department’s criminal division. It involves a Hong Kong entity accused of helping transfer proceeds from Iranian oil sales.
Binance said it has zero tolerance for sanctions violations. In 2023, the exchange pleaded guilty, agreed to pay more than $4.3 billion in penalties and forfeitures, and accepted compliance monitoring.
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