The US Department of Justice Department of Homeland Security launched an investigation into parent company Binance Holdings Ltd. on the fact of possible violations of sanctions against the Russian Federation. This is reported by Bloomberg, citing several anonymous sources.
NEW: The Justice Department is investigating whether Binance was used illegally to let Russians skirt US sanctions and move money through the world’s biggest cryptocurrency exchange https://t.co/namWt0yo5g— Bloomberg (@business) May 5, 2023
The investigation aims to find out if Binance officials or companies allowed Russians to bypass US sanctions and transfer money through their trading platform.
The publication claims that at the moment neither the exchange nor its leaders have been accused of wrongdoing.
Previously, Binance has repeatedly stated that it fully complies with all US and other international sanctions.
In a conversation with Cryplogger, a Binance representative declined to comment on the situation.
Recall that in March, Binance banned P2P transactions in dollars and euros for Russians. These restrictions continue to apply.
In April, the media reported on the abolition of the €10,000 deposit limit for the accounts of Russian users of the exchange, which was introduced a year earlier with the fifth package of EU sanctions.
In the same month, the platform returned support for transactions with Russian bank cards.
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