Binance Tells DOJ It Has Zero Tolerance — For The Number Of Sanctions Questions Coming Its Way 🔎

The Manhattan US Attorney's Office is leading a Justice Department probe into whether Binance knowingly permitted trading that violated US sanctions on Iran, Bloomberg reported Tuesday, expanding details of an investigation first disclosed in March. The Justice Department's Criminal Division in Washington is also participating in the matter, Bloomberg said, citing people familiar with the probe.

Asked for comment, a Binance spokesperson told Cointelegraph: "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." The statement did not directly address whether Binance is aware of the reported investigation.

An investigation does not establish wrongdoing and may conclude without charges being filed. In March, the Wall Street Journal reported that the DOJ was examining whether Iran used Binance to evade US sanctions, citing company documents and people familiar with the matter. At the time, the Journal said it was unclear whether the DOJ was investigating Binance itself, its users, or both. Binance told Cointelegraph at the time it was not aware of any DOJ investigation.

A US Senator has separately asked for an update on the independent monitor overseeing Binance following its 2023 settlement with the Department of the Treasury, amid renewed scrutiny of the exchange's Iran-related compliance. Binance, the world's largest cryptocurrency exchange by trading volume, has not publicly disclosed any new enforcement action tied to the latest reporting.