Federal prosecutors reportedly examine Binance’s Iran-sanctions compliance · Digg

Federal prosecutors reportedly examine Binance’s Iran-sanctions compliance

Bloomberg Law reports that federal prosecutors are investigating whether Binance failed to stop trading that violated U.S. sanctions on Iran; no charges or findings were reported.

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TLDR

Federal prosecutors are investigating whether Binance Holdings violated U.S. sanctions on Iran by failing to stop certain trading on its platform, according to people familiar with the matter cited by Bloomberg Law. The report says the Manhattan U.S. attorney’s office is handling the compliance probe and the Justice Department’s criminal division is involved. Authorities are reportedly examining whether Binance knowingly permitted the trading. An investigation is not a charge or a finding of liability.

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Federal prosecutors are investigating whether Binance Holdings failed to stop trading that violated U.S. sanctions on Iran, according to people familiar with the matter cited by Bloomberg Law.

The report says the Manhattan U.S. attorney’s office is handling the examination of the cryptocurrency exchange’s compliance efforts, with the Justice Department’s criminal division in Washington also involved. Authorities are reportedly scrutinizing whether Binance knowingly allowed the trading.

The report does not say that charges have been filed, and an investigation is not a finding that Binance violated the law. Bloomberg Law’s account relies on unnamed people familiar with the matter, a common limitation in reporting on sensitive investigations.

A new question after earlier enforcement

The reported probe comes after Binance and its former chief executive, Changpeng Zhao, reached a major U.S. resolution in 2023 over anti-money-laundering, money-transmission and sanctions-related violations. The Justice Department said at the time that Binance agreed to pay more than $4 billion and that Zhao pleaded guilty to a charge connected to failures to maintain an effective anti-money-laundering program.

That earlier case does not establish the facts of the newly reported Iran inquiry. It does, however, put the focus on how Binance’s controls are operating after the prior settlement and why federal prosecutors may be taking another look at compliance. Until officials disclose more or a court filing is made public, the scope, evidence and outcome of the reported investigation remain uncertain.

Federal prosecutors reportedly examine Binance’s Iran-sanctions compliance

Bloomberg Law reports that federal prosecutors are investigating whether Binance failed to stop trading that violated U.S. sanctions on Iran; no charges or findings were reported.

1 Source, 6h ago, first seen 6h ago

TLDR

Featured Source

Federal prosecutors are investigating whether Binance Holdings failed to stop trading that violated U.S. sanctions on Iran, according to people familiar with the matter cited by Bloomberg Law.

A new question after earlier enforcement

1 Source

@GizmodoFeds Reportedly Investigating Crypto Titan Binance Over Iran Sanctions https://gizmodo.com/feds-reportedly-investigating-crypto-titan-binance-over-iran-sanctions-2000815127

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