Binance, the cryptocurrency exchange, is reportedly being investigated by the U.S. Department of Justice (DOJ) for potentially violating Russian sanctions, according to Bloomberg.
The DOJ’s national security division is said to be investigating whether Binance or its executives evaded sanctions related to Russia’s invasion of Ukraine, with sanctions imposed since early 2022.
Binance reportedly limited its services to Russia in April 2022. The DOJ’s criminal division is also said to be conducting a separate ongoing inquiry.
As per sources, the DOJ’s national security division is currently investigating the potential violation of Russian sanctions by Binance, along with another ongoing inquiry by the DOJ’s criminal division.
No charges have been filed, and the exchange has not been officially named as part of the investigation. Binance is also said to have engaged with the DOJ to resolve issues relating to Iranian sanctions evasion.
In March, the US Commodity Futures Trading Commission (CFTC) charged Binance with permitting illegal access to commodities by its users. Senator Elizabeth Warren also addressed Binance’s handling of cryptocurrency from Iran’s Islamic Revolutionary Guard Corps on May 4.
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