Binance Faces US Probe Over Alleged Iran Sanctions Violations

US federal prosecutors are investigating whether Binance violated Iran sanctions by failing to prevent certain trading activity on its platform, Bloomberg News reported on Monday, citing people familiar with the matter. The probe is led by the Manhattan US attorney's office, with the Justice Department's criminal division in Washington also involved. Authorities are examining whether Binance knowingly allowed the trading, Bloomberg reported. Binance said it maintains a "zero-tolerance approach to sanctions violations" and "fully cooperates with law enforcement." The DOJ declined to comment. The Manhattan US attorney's office could not immediately be reached. Binance has faced prior US scrutiny. In 2023, then-Chief Changpeng Zhao stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long investigation into the world's largest crypto exchange. Earlier this month, the US government imposed sanctions on firms and individuals it says are helping Hezbollah and other Iranian proxies, intensifying its campaign to isolate Iran economically.