Published • loading... • Updated
Binance Under US Scrutiny over Possible Iran Sanctions Violations, Bloomberg News Reports
Bloomberg said prosecutors are examining whether Binance let $898 million in trades involving users in Iran slip past sanctions controls.
- On Monday, federal prosecutors launched an investigation into whether Binance violated United States sanctions on Iran by failing to prevent prohibited trading activity on its platform.
- This inquiry follows the exchange's November 2023 criminal resolution with the Justice Department, where Binance pleaded guilty to violating the Bank Secrecy Act and agreed to a $4.316 billion penalty.
- Separately, a civil forfeiture complaint filed by the Southern District on Sept. 14 seeks assets tied to approximately $61 million in alleged Iranian oil sales, though the case does not charge Binance with wrongdoing.
- Binance said it maintains a "zero-tolerance approach to sanctions violations," noting that more than 1,500 employees work in compliance-related functions to monitor potential risks and cooperate with law enforcement.
- United States authorities continue an intensified campaign to isolate Iran economically, recently imposing sanctions on firms allegedly assisting Hezbollah and other Iranian proxies in the Middle East.
Insights by Ground AI
48 Articles
48 Articles
U.S. federal prosecutors are checking to see if Binance's cryptobir was able to allow Iranian users to conduct operations contrary to American sanctions.
·Kyiv, Ukraine
Read Full Article
Coverage Details
Total News Sources48
Leaning Left1Leaning Right4Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
C 55%
R 36%
Factuality
To view factuality data please Upgrade to Premium
