- U.S. prosecutors probe whether Binance knowingly allowed Iran sanctions breaches.
- Prosecutors seek $61M in alleged Iran oil proceeds without accusing Binance.
- Binance cites compliance efforts as scrutiny follows its $4.3B settlement in 2023.
U.S. prosecutors are investigating whether Binance knowingly allowed transactions that violated sanctions on Iran.
The investigation examines the exchange’s compliance controls and follows a separate effort to recover $61 million allegedly linked to Iranian oil sales. However, authorities have not publicly identified the transactions under scrutiny or established a connection between the two matters.
What U.S. Prosecutors Are Examining
The Manhattan U.S. Attorney’s Office leads the investigation, with involvement from the Justice Department’s criminal division in Washington. Authorities are examining whether Binance knew about the trading and allowed it to continue.
That question remains unresolved. Bloomberg reported that the specific transactions were unclear, and Justice Department investigations can conclude without charges. Binance said it maintains a zero-tolerance policy toward sanctions violations and cooperates with law enforcement. The exchange also said it remains committed to identifying and removing bad actors.
Where Iranian Oil Money Enters the Scene
Separately, Manhattan prosecutors sought forfeiture of $61 million in a September 14 filing. They alleged that the funds came from Iranian black-market oil sales and moved through Binance. Prosecutors said two Hong Kong-registered companies misrepresented their business activities.
They did not accuse Binance of wrongdoing in that action, a distinction that separates the forfeiture allegations from the reported investigation. Responding to the filing, Binance said it did not permit transactions with sanctioned individuals and pledged continued cooperation.
This comes following a report where Chainalysis said its 2026 Crypto Crime Report had mapped the network at the center of the forfeiture case. Its broader research estimated that Iran’s cryptocurrency ecosystem reached more than $7.78 billion in 2025.
Within that ecosystem, addresses associated with Islamic Revolutionary Guard Corps facilitation networks received more than $3 billion during the year, according to Chainalysis.
Binance’s Earlier Settlement Adds Compliance Context
The investigation follows Binance’s 2023 guilty plea to anti-money-laundering, unlicensed money-transmission and sanctions violations. The company agreed to pay approximately $4.3 billion, strengthen compliance and accept two corporate monitors.
Since then, Binance has focused on its compliance investment. In February, it said more than 1,500 employees, roughly one-quarter of its workforce, worked in compliance.
Related: Binance CEO Denies Wrongdoing as DOJ Seeks $61M in Iran-Linked Crypto Case
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