Binance Faces U.S. Probe Over Possible Iran Sanctions Violations, Bloomberg Says

Federal prosecutors are examining whether Binance Holdings Ltd. breached U.S. sanctions against Iran by failing to block certain trading on its platform, Bloomberg said Monday, citing people with knowledge of the matter.

The U.S. attorney's office in Manhattan is handling the investigation into the compliance practices of the world's largest cryptocurrency exchange, according to Bloomberg.

The Justice Department's criminal division in Washington is also involved in the probe. Authorities are looking into whether Binance knowingly allowed the trading activity.

In 2023, Binance agreed to a $4.3 billion settlement with U.S. regulators over violations of anti-money laundering and sanctions rules.

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