U.S. Prosecutors Investigate Binance for Iran Sanctions Violations

Federal prosecutors are investigating whether Binance violated U.S. sanctions on Iran by failing to prevent specific trading activity on its platform. The probe, led by the U.S. Attorney's Office for the Southern District of New York with support from the Justice Department's criminal division, focuses on whether the cryptocurrency exchange knowingly allowed these transactions.

Binance stated it maintains a "zero-tolerance approach to sanctions violations" and is cooperating with law enforcement. This investigation follows a 2023 settlement in which the company paid $4.3 billion and former chief Changpeng Zhao pleaded guilty to anti-money laundering violations.

The probe occurs amid a broader U.S. effort to economically isolate Iran, which has recently included sanctions on entities supporting Hezbollah and other Iranian proxies.