Federal authorities are reportedly probing whether cryptocurrency exchange Binance violated U.S. sanctions against Russia.The U.S. Justice Department’s investigation centers on whether the company was used to allow Russians to avoid the sanctions. according to Bloomberg news.
Bloomberg said Binance has been in discussions with the DOJ to resolve earlier complaints that it was used to skirt sanctions against Iran, per unnamed sources.
This new probe is the latest in a series of investigations involving the world’s largest cryptocurrency exchange, coming during a time of heightened scrutiny into the sector.
Commodity Futures Trading Commission (CFTC) in a legal action that accuses the company and founder/CEO Changpeng Zhao of circumventing U.S. compliance rules to boost profits.
Jeffrey Newman is a whistleblower lawyer representing SEC and CFTC whistleblowers. He can be reached at Jeff@Jeffnewmanlaw.com or at 617-823-3217