The U.S. Department of Justice Launches Investigation Into Iran's Use of Binance to Bypass Sanctions

BlockBeats News, March 11th, according to The Wall Street Journal report, the U.S. Department of Justice has launched an investigation into Iran's use of Binance to evade sanctions. Sources revealed that a previous internal investigation at Binance into over $1 billion of suspicious flows was halted, with these funds flowing through the platform to a terrorism funding network supporting Iran, with a focus on the movement of related funds on Binance and their compliance risks.

U.S. Justice Department officials have contacted individuals knowledgeable about Iranian transactions, seeking interviews and gathering evidence. It is currently unclear whether the Justice Department is investigating potential misconduct by Binance itself or only focusing on its platform's customers.