The US Department of Justice has launched an investigation into Finance. Russians may have used crypto exchange to circumvent US sanctions against Russia. Sources tell Bloomberg News.
Finance is already in talks with the ministry over suspected evasion of US sanctions against Iran, according to one of the sources. That would have happened before strict compliance checks were put in place. The crypto exchange is compliant with all US and international financial sanctions, it said in a statement.
This isn’t the first investigation into Binance’s trading. The US financial regulator Commodity Futures Trading Commission (CFTC) filed a lawsuit in March against the world’s largest cryptocurrency trading platform and its co-founder and CEO Changpeng Zhao.
According to the indictment, Binance has violated several rules over the years. For example, the exchange is said to have carried out certain transactions and services without the required permission.