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The U.S. Department of Justice is investigating whether Binance may have violated Iran-related sanctions, a media outlet reported. The DOJ is reviewing whether Binance processed fund transfers tied to Iranian oil transactions under sanctions and whether it complied with the terms of its $4.3 billion settlement with the U.S. government in 2023.
Binance previously agreed in 2023 to pay $4.3 billion after admitting to anti-money laundering, or AML, violations and other compliance failures, and it pledged to strengthen its internal compliance systems. More recently, U.S. prosecutors moved to seize $61 million tied to illegal Iranian oil sales, while allegations also surfaced that about $850 million from Iran-linked accounts was traded through Binance.
The DOJ has only confirmed that the investigation is underway and has not concluded Binance violated the earlier settlement terms.