🔥The folks at the U.S. Department of Justice sure have impeccable timing, huh? Right after the crypto ban on Iran, they launch an investigation into Binance.
The story goes back to 2023, after settlements involving fines of up to $4.3 billion and subsequent settlement agreements. More recently, the U.S. Department of Justice has opened a review to determine whether Binance is still complying with those agreements.
The main focus of this review is whether Binance violated U.S. sanctions on Iran, as transactions on Binance may have breached the U.S. embargo on Iran.
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In addition, a Wall Street Journal reporter learned that a high-value account had set up a financial channel for Iran. The account had reportedly logged in from Tehran multiple times, prompting U.S. and Swiss authorities to question the exchange.
The current inquiries and investigations have not yet been detailed publicly.
The story goes back to 2023, after settlements involving fines of up to $4.3 billion and subsequent settlement agreements. More recently, the U.S. Department of Justice has opened a review to determine whether Binance is still complying with those agreements.
The main focus of this review is whether Binance violated U.S. sanctions on Iran, as transactions on Binance may have breached the U.S. embargo on Iran.
⚠️
In addition, a Wall Street Journal reporter learned that a high-value account had set up a financial channel for Iran. The account had reportedly logged in from Tehran multiple times, prompting U.S. and Swiss authorities to question the exchange.
The current inquiries and investigations have not yet been detailed publicly.