The US Department of Justice is investigating Iran for allegedly using Binance to circumvent sanctions.

CoinFeed reported on March 11 that, according to the Wall Street Journal, the U.S. Department of Justice is investigating how Iran used Binance, the world's largest cryptocurrency exchange, to circumvent U.S. sanctions. The report, citing company documents and sources familiar with the matter, stated that an internal Binance investigation into the suspicious flow of over $1 billion through the platform was halted. These funds allegedly flowed to a network that finances Iranian-backed terrorist organizations, including the Houthi rebels in Yemen. The investigation focuses on the flow of these funds on Binance and the associated compliance risks.