DOJ Investigates Binance Over Iran’s Bitcoin Sanctions Evasion

Binance Iran sanctions — U.S. federal prosecutors are investigating whether Binance allowed Iran to evade sanctions by using its platform to trade cryptocurrencies, including Bitcoin, according to a Bloomberg report.

The Department of Justice is probing if the global exchange knowingly permitted transactions by Iran-linked entities. This follows a recent DOJ action to seize $61 million in cryptocurrency allegedly laundered through Binance from black-market sales of sanctioned Iranian oil.

Iran has increasingly turned to Bitcoin and other cryptocurrencies to circumvent U.S. sanctions, with the Treasury Department recently targeting related crypto wallets and designating an Iranian exchange. The regime has reportedly used Bitcoin to settle cross-border transactions.

Binance, which has no headquarters but is incorporated in the Cayman Islands, previously settled with U.S. authorities for $4.3 billion over compliance failures, leading to the departure of its founder.