Manhattan Probe Joins DOJ in Binance Iran Sanctions Inquiry

The Manhattan U.S. attorney’s office is investigating whether Binance knowingly allowed trading that violated U.S. sanctions on Iran. The Justice Department’s Criminal Division in Washington has joined the inquiry.

The review began in March and has expanded to involve both the Manhattan office and the DOJ criminal team. Prosecutors are examining whether the cryptocurrency exchange’s platform was used to evade U.S. restrictions and whether Binance was aware of or facilitated that activity.

Investigators are gathering internal company records, account activity logs and compliance procedures to determine whether the firm met legal obligations to block or report prohibited transactions. Officials are still assessing whether the probe will focus on the company itself, individual users or a combination of both.

The inquiry centers on transactions that could have allowed sanctioned Iranian entities or individuals to access digital-asset markets despite U.S. controls. U.S. sanctions bar many types of financial dealings with Iran, and authorities have pursued cases involving attempts to use digital tools to evade those restrictions.

The Criminal Division prosecutes federal cases involving sanctions evasion and related crimes. Its participation places the matter within the department’s criminal enforcement work.

Binance issued a statement: “We maintain a zero-tolerance policy for sanctions violations. We fully cooperate with law enforcement and are committed to rooting out and shutting down bad actors.” The company has previously indicated it was not aware of a Department of Justice investigation.

An investigation does not establish wrongdoing and can end without charges being filed. Prosecutors continue to gather evidence and evaluate whether criminal charges are warranted.