US Attorney's Office Investigates Binance for Alleged Iran Sanction Violations
The Manhattan US Attorney's Office is investigating Binance for potentially enabling trading that violates US sanctions on Iran. This inquiry follows earlier reports of a Justice Department investigation into the company's compliance with these sanctions.
Investigation Overview
The Manhattan US Attorney's Office is currently looking into whether Binance knowingly facilitated trading that contravenes US sanctions against Iran. This investigation is part of a broader inquiry by the Justice Department's Criminal Division, which has been ongoing since reports surfaced in March.
Cooperation from Binance
A spokesperson for Binance stated, "We maintain a zero-tolerance policy for sanctions violations. We fully cooperate with law enforcement, and we remain committed to rooting out and shutting down bad actors." However, the statement did not confirm knowledge of the ongoing investigation.
Context of the Investigation
Earlier reports indicated that the Justice Department was assessing the role of Binance in potentially allowing Iranian entities to bypass US sanctions. The Wall Street Journal noted that it was unclear whether the investigation targeted Binance itself, its users, or both. At that time, Binance claimed it was not aware of any investigation by the DOJ.
It is important to note that an investigation does not imply any wrongdoing and may conclude without any charges being filed.