U.S. Department of Justice Checks Binance Compliance and Investigates Iran Sanctions Violations

The U.S. Department of Justice is checking whether Binance has complied with the government agreement in 2023 and is also investigating the possibility of violations of Iran sanctions. The head of the Criminal Division stated that they are reviewing whether Binance is adhering to the agreement. Binance acknowledged violations of U.S. banking regulations in 2023 and agreed to pay a fine of $4.3 billion, subsequently strengthening its compliance monitoring system. The core of this investigation revolves around allegations of violating Iran sanctions, specifically whether Binance failed to block certain transactions, thus breaching the sanctions. The Manhattan federal prosecutors claimed that $61 million generated from Iran's black market oil sales was laundered through Binance and sought forfeiture. Binance has not been identified as engaging in illegal activities, and the investigation may conclude without charges. The Department of Justice warned that if the agreement is violated, existing criminal charges could be revived, and additional fines may be imposed. Binance has stated that it will cooperate with law enforcement authorities.

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