Crypto in the service of Iran? The US has launched a cross-continental investigation

Federal prosecutors in the US have opened an investigation into the cryptocurrency exchange Binance on suspicion of violating sanctions against Iran. According to Bloomberg, the company did not block Iranian trading on the platform. The investigation adds to previous legal conflicts, including the seizure of the company's operations in 2019.

Federal prosecutors in the United States have opened an investigation into the decentralized currency exchange Binance, on suspicion of violating American sanctions against Iran. According to a report by Bloomberg, the company did not block Iranian trading on its platform, thereby allegedly circumventing the economic sanctions imposed on Tehran. The investigation focuses on the company's alleged failure to block specific transactions by Iranian entities. Reuters noted that it has not yet been able to independently verify the report. The current investigation adds to a series of legal confrontations between the platform and American authorities. In 2019, the US seized the company's operations on regulatory grounds, a move that led to the establishment of 'Binance US' as a separate entity. Documents revealed by Forbes magazine in 2020 allegedly pointed to a sophisticated corporate structure designed to evade oversight.