Binance under US scrutiny over possible Iran sanctions violations, Bloomberg News reports

US federal prosecutors are probing Binance for potential violations of sanctions on Iran, Bloomberg News disclosed on Monday, according to sources with knowledge of the situation. The investigation, spearheaded by the Manhattan US attorney's office with the Justice Department's criminal division in Washington joining the effort, scrutinizes whether the crypto exchange knowingly facilitated trading activities that breached the sanctions.

Binance maintained a "zero-tolerance" stance on sanctions violations, stating in a statement that it cooperates fully with law enforcement and remains committed to identifying and eliminating wrongdoing.

The Department of Justice (DOJ) declined to comment, while the Manhattan office was unavailable for comment outside regular business hours. Binance has previously faced US scrutiny. In 2023, the exchange's former CEO, Changpeng Zhao, resigned and pleaded guilty to violating US anti-money laundering laws, as part of a $4.3 billion settlement that resolved a prolonged probe into the world's largest cryptocurrency exchange.

Earlier this month, the US government sanctioned entities and individuals it accuses of aiding Hezbollah and other Iranian proxies in the Middle East, escalating its economic isolation campaign against Iran.