Binance Under US Investigation as Prosecutors Examine Iran-Linked Trading

Federal prosecutors are investigating Binance over possible Iran sanctions violations. Binance is facing a new investigation in the United States over possible violations of sanctions on Iran, Bloomberg News reported on Monday. Investigators are examining whether Binance allowed certain trading activity linked to Iran on its platform. Authorities are also looking into whether the crypto exchange knowingly allowed the activity to take place, Bloomberg reported. Another Probe Binance maintained that it has a zero-tolerance policy toward sanctions violations. The company also asserted that it works closely with law enforcement agencies and remains focused on identifying and removing bad actors from its platform. This isn’t the first time Binance has faced major scrutiny from US authorities. Its former CEO, Changpeng Zhao, stepped down in November 2023 after the Justice Department accused him of violating US financial laws, including the Bank Secrecy Act and the International Emergency Economic Powers Act. Zhao pleaded guilty and was sentenced to four months in prison in April 2024. He also paid a $50 million fine. Binance agreed to plead guilty and pay $4.3 billion in penalties as par...