U.S. Department of Justice Reviews Whether Binance Complied with 2023 Settlement Agreement, Involving Over $4.3 Billion in Penalties and Forfeiture

Odaily News: The U.S. Department of Justice is reviewing whether Binance complied with its 2023 settlement agreement with U.S. authorities, focusing on transactions after the settlement that may have violated U.S. sanctions against Iran, including whether Binance allowed transactions that its systems should have blocked. The review is led by the U.S. Attorney's Office for the Southern District of New York and the Department of Justice's Criminal Division, and involves a Hong Kong entity accused of assisting in the transfer of funds from Iranian oil sales. Binance responded that it has zero tolerance for sanctions violations. Binance previously pleaded guilty in 2023 and agreed to pay over $4.3 billion in penalties and forfeiture, while also accepting a compliance monitor.