The United States Justice Department is investigating cryptocurrency exchange Binance in connection with possible Russian sanction violations.
So far, neither Binance nor the United States Justice Department have commented on the matter.
Binance Under Scrutiny Once Again
According to a report on Friday, the United States is investigating whether Binance Holdings allowed customers based in Russia to access the exchange. This would be in violation of the sanctions imposed on Russia by the United States following the former’s invasion of Ukraine. The inquiry is being led by the Justice Department’s national security division. Global regulators have consistently advocated stricter controls and regulations on crypto exchanges such as Binance. According to regulators, more stringent regulations could help curb activities such as money laundering and terror financing.
Previous Action Against Binance
The action by the justice department is the latest high-profile action against Binance and
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