Bitcoin
Binance Faces US Criminal Probe Over Alleged Iran Sanctions Violations
Federal prosecutors in New York are examining whether the cryptocurrency exchange knowingly permitted capital flows linked to Iranian sanctions breaches.
The United States Department of Justice has launched a criminal inquiry into whether Binance knowingly violated sanctions against Iran, according to a Bloomberg report. Federal prosecutors based in Manhattan and the Justice Department's criminal division are reviewing whether the exchange was aware of illicit Iranian capital circulating through its platform.
The investigation follows a federal effort to forfeit $61 million from Binance, which authorities state was generated from black-market Iranian oil transactions and laundered via two Chinese entities, Blessed Trust and Hexa Whale. U.S. Treasury enforcement actions have frozen more than $1 billion in digital assets connected to the Iranian government since earlier this year.
Binance Chief Executive Richard Teng denied any wrongdoing by the platform and noted that no formal charges have been brought against the company. Teng stated that the exchange enforces sanctions rules and cooperates with authorities to remove violators. The matter surfaces alongside past reports of staff dismissals regarding internal findings on Iranian transactions, while European Central Bank President Christine Lagarde reportedly intervened to oppose Binance's licensing in the European Union.
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