Key facts
- US prosecutors are investigating Binance for potential violations of Iran sanctions.
- The investigation is led by federal prosecutors with the US attorney's office in Manhattan and the Justice Department's criminal division.
- Investigators are scrutinizing whether Binance knowingly allowed trading that violated the sanctions.
US federal prosecutors are investigating Binance for potential violations of sanctions imposed on Iran, according to a source familiar with the matter. The probe is being led by federal prosecutors with the US attorney's office in Manhattan and the Justice Department's criminal division in Washington. Investigators are scrutinizing whether the cryptocurrency exchange knowingly allowed trading activities that contravened sanctions. Spokespeople for the US Attorney's Office for the Southern District of New York and the Justice Department's criminal division declined to comment. Binance stated it has a zero-tolerance approach to sanctions violations and fully cooperates with law enforcement. The US government has imposed sanctions on firms and individuals it says are helping Hezbollah and other Iranian allies in the Middle East.