U.S. Prosecutors Investigate Binance Over Possible Iran Sanctions Violations
United StatesIran
Sep 22, 20261 sources
Key Takeaways
- 01The Manhattan U.S. Attorney’s Office is investigating Binance over possible violations of U.S. sanctions on Iran.
- 02Prosecutors are examining Binance’s compliance controls and whether it knew prohibited transactions were being processed.
- 03Binance paid about $4.3 billion in 2023 after pleading guilty to anti-money-laundering, unlicensed money-transmission and sanctions violations.
- 04The inquiry could create additional enforcement risk for Binance, but no charging decision has been reported.
Federal prosecutors in Manhattan are investigating whether Binance knowingly allowed transactions that violated U.S. sanctions on Iran, according to Bloomberg.
The inquiry focuses on Binance’s compliance controls and whether the exchange knew about the transactions at issue. U.S. sanctions generally prohibit U.S.-connected persons and businesses from engaging in many transactions involving Iran.
The investigation adds to Binance’s existing regulatory and criminal history. In 2023, Binance pleaded guilty to anti-money-laundering, unlicensed money-transmission and sanctions violations and agreed to pay about $4.3 billion.