From The Straits Times · · 1m
US DOJ checks Binance compliance with 2023 deal
US Justice Department probes Binance for 2023 settlement breach and Iran sanctions violations.
In brief
US Justice Department probes Binance for 2023 settlement breach and Iran sanctions violations. US Justice Department is checking if Binance broke its 2023 settlement deal and potential Iran sanctions breaches linked to black-market oil sales. Originally reported by The Straits Times.
US Justice Department checks Binance
US Justice Department is scrutinising whether Binance broke its 2023 settlement deal.
2023 settlement terms
Binance agreed to a us$4.3 billion penalty and must report misconduct related to money laundering, banking transactions and sanctions violations.
Iran sanctions probe
DOJ probes Binance for possible iran sanctions breaches linked to black-market oil sales.
DOJ official Tysen Duva
Tysen Duva urged crypto firms to self-report fraud and praised public-private cooperation.
Binance compliance efforts
Binance says it is improving controls and will keep working with law enforcement.
Potential consequences
If Binance breached the deal, it could face revived charges and billions in additional fines.
The main idea
US Justice Department is checking if Binance broke its 2023 settlement deal and potential Iran sanctions breaches linked to black-market oil sales.
