Binance Under US Criminal Probe Over Alleged Iran Sanctions Breaches

US prosecutors have opened a criminal investigation into Binance over possible violations of Iran sanctions, examining whether the cryptocurrency exchange knowingly allowed prohibited trading on its platform.

The inquiry centres on whether the company permitted transactions that would breach US restrictions on doing business with Iran. Investigators are looking into whether such activity was allowed knowingly, a question that goes to the intent behind the exchange's compliance controls.

The probe adds to a lengthy record of US regulatory scrutiny for Binance. The company previously pleaded guilty in 2023 as part of an earlier US enforcement action, a case that already established its exposure to American law enforcement and financial regulators.

The latest investigation signals that Binance's US legal troubles are not behind it. Sanctions compliance has become a central concern for crypto exchanges, which are expected to screen users and block transactions linked to jurisdictions under US restrictions.

No charges have been announced in connection with the current investigation, and its outcome remains uncertain. Details of the inquiry, including its scope and timing, have not been disclosed.