U.S. prosecutors probe Binance for possible sanctions violations

Federal prosecutors in Manhattan and the U.S. Department of Justice are examining whether Binance, the world’s largest cryptocurrency exchange, allowed trading that violated U.S. sanctions on Iran. The investigation focuses on whether the platform continued to facilitate transactions despite knowledge that they breached sanctions law.

Investigation details

The Manhattan U.S. attorney’s office is leading the probe, with the DOJ’s criminal division in Washington, D.C. collaborating to determine if Binance knowingly permitted prohibited activity. Binance has responded that it maintains a zero‑tolerance policy for sanctions violations and is fully cooperating with law‑enforcement authorities.

Background and prior compliance issues

Binance previously pleaded guilty to banking‑compliance violations in 2023, agreeing to pay $4.3 billion in fines. Since then, the exchange has highlighted its compliance efforts, noting that roughly 1,500 staff members—about 25 % of its global workforce—focus on regulatory matters.

In early 2024, Binance filed a defamation lawsuit against Dow Jones after a report suggested the Justice Department was investigating Iranian use of the platform to move sanctioned funds. The exchange has also faced criticism for making it harder for authorities in several countries to obtain user information.

Political scrutiny

U.S. Senator Richard Blumenthal launched a separate probe in February, alleging that Binance may have facilitated sanctions‑evading transactions worth up to $1.7 billion. Binance has denied the allegations, stating it found no evidence to support them.