Binance under investigation by U.S. Department of Justice for Russian sanctions violations
Binance under investigation by U.S. Department of Justice for Russian sanctions violations
The U.S. Department of Justice suspects cryptocurrency exchange Binance of violating sanctions against Russia and its citizens, and has launched an investigation into the matter.
The investigation aims to determine whether Binance allowed Russians to circumvent U.S. sanctions and transfer money through its trading platform.
According to information from Bloomberg, no formal charges have been filed against Binance or its executives at this time.
Binance has previously maintained that it is fully compliant with all sanctions and that its KYC system is on par with the best banks in the world.
"Our policy requires zero tolerance for double registrations, anonymous identities and hidden sources of funds," the Binance representative said.
Earlier, it was reported that Binance had resumed transactions with Russian cards.
Founded in 2017, Binance is not only one of the largest cryptocurrency exchanges, but also a platform for creating cryptocurrency business projects. The exchange has its own coin, which is used in the Binance ecosystem as an internal payment unit.
