Binance under investigation for possibly skirting sanctions against Russia
Binance has a fresh pair of eyes on its business dealings, this time belonging to the U.S. Department of Justice.
Bloomberg reported that the crypto exchange (currently the world's largest) is facing a DOJ probe over possibly allowing Russians to move money in a way that would violate U.S. sanctions. Per Bloomberg's report, Binance has also talked to the DOJ about older, similar complaints related to sanctions against Iran.
Binance, of course, denied any wrongdoing in a statement. The company emphasized that it "launched an initiative to completely overhaul its corporate governance structure" in 2021, becoming compliant with international sanctions.
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It's worth noting that no formal accusation has been made against Binance, as this is just a probe. It may be some time before accusations manifest—if they manifest at all. In 2021, Binance was under a similar investigation related to possible money laundering.
Binance became the world's biggest crypto exchange late last year, as FTX infamously collapsed. At one point, Binance planned to bail out FTX financially, but that eventually fell through.
At least the crypto world is never boring.
Topics Cryptocurrency
Alex Perry is a tech reporter at Mashable who primarily covers video games and consumer tech. Alex has spent most of the last decade reviewing games, smartphones, headphones, and laptops, and he doesn’t plan on stopping anytime soon. He is also a Pisces, a cat lover, and a Kansas City sports fan. Alex can be found on Bluesky at yelix.bsky.social.
