US federal prosecutors are investigating whether Binance violated sanctions on Iran by failing to prevent certain trading activity on its platform, Bloomberg News reports, citing people familiar with the matter, according to Reuters.
The probe is being led by the Manhattan US attorney’s office, with the Justice Department’s criminal division in Washington also involved, Bloomberg News reported, adding that authorities are examining whether Binance knowingly allowed the trading.
Binance said in a statement that it has a zero-tolerance approach to sanctions violations. “We fully cooperate with law enforcement, and we remain committed to rooting out and shutting down bad actors.”
The DOJ declined to comment, while the Manhattan US attorney’s office could not immediately be reached for a comment outside regular business hours.
