No charges of malfeasance have been brought against the company or its executive.
Binance is under investigation by the U.S. Department of Justice (DOJ) for potential breaches of Russian sanctions, Bloomberg reported on May 5.
In particular, the national security division of the Department of Justice will investigate whether Binance or its executives circumvented sanctions related to Russia’s invasion of Ukraine. Beginning in early 2022, numerous sanctions of this type were imposed, and in April 2022, Binance appeared to respond by limiting its services to Russia.
According to Bloomberg’s sources, the investigation is being conducted concurrently with another ongoing investigation from the DOJ’s criminal division.
According to Bloomberg, neither Binance nor its executives have been accused of misconduct, nor has the investigation been officially announced or previously reported. Instead, the information was obtained from five individuals with knowledge of the subject.
According to Bloomberg’s sources, Binance has previously worked with the DOJ to resolve other compliance issues, particularly those involving the violation of Iranian sanctions.
On May 4, Senator Elizabeth Warren discussed Binance’s role in dealing with cryptocurrency from Iran’s Islamic Revolutionary Guard Corps.
Elsewhere, on March 27, the U.S. Commodity Futures Trading Commission (CFTC) lodged allegations against Binance, alleging that Binance permitted unauthorised access to commodities.
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