Binance probed by U.S. federal prosecutors for sanctions violations: Bloomberg
Federal prosecutors in Manhattan and the Justice Department are said to be investigating whether the crypto exchange knowingly permitted users to bypass U.S. sanctions on Iran.
U.S. federal prosecutors are investigating whether Binance violated sanctions on Iran by not halting specific trading activities on its platform, Bloomberg reported Tuesday, citing people familiar with the matter.
The U.S. attorney’s office in Manhattan is responsible for the investigation into the world’s largest crypto exchange’s compliance efforts, according to the people, who asked not to be identified.
The Department of Justice’s criminal division in Washington, D.C. is collaborating with the investigation aimed at discovering whether Binance allowed trading to proceed despite being aware that it violated sanctions laws, one of the people said.
Since then, the company has sought to emphasize its cooperation with law enforcement and regulators. The company said in a blog post in February that more than 1,500 people, or about 25% of its global headcount, worked on compliance.