Cryptocurrency Controversy: Binance Faces DOJ Investigation
According to a report by Bloomberg on May 5, the U.S. Department of Justice (DOJ) is currently investigating potential violations of Russian sanctions by Binance.
The DOJ’s national security division focuses on determining whether Binance, along with its executives, evaded sanctions related to Russia’s invasion of Ukraine.
Sanctions of this nature were imposed starting in early 2022, and in response, Binance appeared to limit its services to Russia in April 2022.
Bloomberg’s sources reveal that this investigation is running parallel to another ongoing inquiry conducted by the DOJ’s criminal division.
It’s important to note that neither Binance nor its executives have been formally accused of any misconduct at this time.
Furthermore, the investigation itself has not been officially announced or previously reported, with Bloomberg sourcing information from five individuals familiar with the matter.
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According to the same sources, Binance has previously engaged with the DOJ to address compliance issues, specifically regarding the evasion of Iranian sanctions.
Additionally, on May 4, Senator Elizabeth Warren mentioned Binance’s involvement in handling cryptocurrency associated with Iran’s Islamic Revolutionary Guard Corps.
On March 27, the U.S. Commodity Futures Trading Commission (CFTC) filed charges against Binance, alleging that the platform permitted users to illegally access commodities.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
