US prosecutors probing Binance for possible Iran sanctions violations

US prosecutors are investigating Binance in connection to US sanctions on Iran and trading activity on its platform, a source with knowledge of the matter said. The investigation is being led by federal prosecutors with the US attorney's office in Manhattan and with the Justice Department's criminal division in Washington, the source said. Bloomberg News, which earlier reported the probe, said investigators are scrutinising whether Binance knowingly allowed the trading that violated the sanctions. Spokespeople for the US Attorney's Office for the Southern District of New York and the Justice Department's criminal division declined to comment. Binance said in a statement it has a zero-tolerance approach to sanctions violations. "We fully cooperate with law enforcement, and we remain committed to rooting out and shutting down bad actors," it said. The US government has imposed sanctions on firms and individuals it says are helping Hezbollah and other Iranian allies in the Middle East, intensifying its campaign to isolate Iran economically. Report by Reuters