The U.S. Department of Justice is investigating whether Binance is suspected of violating sanctions against Iran

According to Bloomberg, sources reveal that U.S. federal prosecutors are investigating whether Binance Holdings Ltd. violated U.S. sanctions against Iran by failing to prevent certain transactions on its platform.

The investigation into Binance's compliance is being handled by the Manhattan U.S. Attorney's Office. One source also noted that the Criminal Division of the U.S. Department of Justice in Washington is involved in the case, with authorities focusing on whether Binance knowingly allowed the relevant transactions to proceed.