US probes Binance over potential Iran sanctions violations

The US Department of Justice is investigating cryptocurrency exchange Binance over potential violations of American sanctions imposed on Iran, according to reports by Reuters and The Edge Singapore, citing Bloomberg News.

According to the reports, the inquiry is being led by the US Attorney's Office in Manhattan and focuses on the exchange's compliance with trade restrictions regarding Iranian entities.

Further details regarding the scope of the probe or any formal steps taken against the platform have not yet been disclosed, and Binance did not immediately issue a public response.