U.S. federal prosecutors are examining whether Binance intentionally permitted transactions linked to Iran on its platform, potentially violating sanctions. The inquiry involves the Manhattan U.S. attorney's office and the Justice Department's criminal division. Binance stated it maintains a zero-tolerance policy regarding sanctions and cooperates with authorities.
The exchange previously pleaded guilty to violating U.S. banking and sanctions laws, paying $4.3 billion in penalties. Following this, co-founder Changpeng Zhao resigned as CEO and served a four-month prison sentence. The company also appointed two corporate monitors to oversee its compliance operations.
Recent reports from media outlets estimated that between $1 billion and $1.7 billion in funds moved through the platform to entities connected to Iran. Binance disputed these figures, stating that at most $126.1 million reached wallets linked to Iran, with a maximum of $24.1 million associated with the IRGC.
Last week, Manhattan prosecutors sought the forfeiture of $61 million, alleging the funds were laundered through Binance from Iranian oil sales. While the exchange was not accused of wrongdoing in this specific action, the Treasury Department continues to expand its authority to target foreign entities operating within Iran's digital asset sector.
