The Manhattan U.S. Attorney’s Office is leading an investigation into whether the world's largest crypto exchange knowingly facilitated prohibited trades involving Iran. The probe focuses on Binance's compliance controls and internal awareness of the transactions, Bloomberg reported citing people familiar with the matter. Federal prosecutors from the Department of Justice criminal division in Washington are also participating in the inquiry.

Binance previously pleaded guilty in 2023 to sanctions violations, unlicensed money transmission, and anti-money-laundering failures. That legal resolution required the exchange to pay approximately $4.3 billion to resolve the charges.