US Probes Whether Binance 'Knowingly' Let Iran-Linked Trades Through: Report

In brief

• Federal prosecutors are examining whether Binance failed to stop trading that breached U.S. sanctions on Iran, Bloomberg reported Monday.
• The Manhattan U.S. attorney's office is handling the inquiry, with the Justice Department's criminal division in Washington also involved.
• Binance stated that it maintains a zero-tolerance approach to sanctions violations, and is "committed to rooting out and shutting down bad ​actors."

U.S. federal prosecutors are investigating whether Binance violated sanctions on Iran by not stopping certain trading on its platform, Bloomberg reported on Monday, citing people familiar with the matter. The Manhattan U.S. attorney's office is handling the inquiry, the Justice Department's criminal division in Washington is also involved, and authorities are scrutinizing whether the exchange knowingly allowed the trading.

The transactions under examination were not clear, and Justice Department investigations can close without charges being filed. Spokespeople for the department and the Manhattan U.S. attorney's office declined to comment.

"We maintain a zero-tolerance policy for sanctions violations," Binance said in a statement, adding that it cooperates with law enforcement.