Binance back under scrutiny as DOJ probes Iran sanctions evasion claims: Report

The U.S. Department of Justice (DOJ) is reportedly investigating possible sanctions evasion involving Binance and Iranian entities. Inside sources claim the probe focuses on over $1 billion in transactions that may have helped financially support Iran-linked groups. Binance asserts that transactions with sanctioned entities did not occur directly through their platform, and internal efforts to curb suspicious activities have led to account closures. The investigation is part of a broader concern about the potential for crypto exchanges to facilitate cross-border fund movements that contravene sanctions. The DOJ's actions follow a previous settlement with Binance for $4.3 billion in 2023 related to anti-money laundering and sanctions violations. The outcome of the current investigation remains uncertain, as officials have not disclosed any formal charges or regulatory measures at this stage.