Feds Probing Binance Over Iran’s Bitcoin Use: Report

Bitcoin Magazine Feds Probing Binance Over Iran’s Bitcoin Use: Report Federal prosecutors — including the U.S.

Department of Justice — are investigating whether Binance has allowed Iran to dodge sanctions by using its platform, according to a report from Bloomberg.  The outlet, citing people familiar with the matter, reported Tuesday that feds were investigating whether  Binance Holdings Ltd., which operates the world’s biggest crypto exchange, knowingly allowed Iran-linked entities to trade.  It comes after the U.S.

Department of Justice last week said it is seizing and seeking to forfeit $61 million in cryptocurrency that it alleges came from black-market sales of sanctioned Iranian oil.

The funds, according to the DOJ, were laundered through Binance by Chinese entities.  Iran has been using bitcoin — and other cryptocurrencies — to skirt around U.S. sanctions. The U.S.