DoJ Investigating Binance
Binance, a popular cryptocurrency exchange, has come under fire for assisting Russians in evading sanctions imposed by the US government last year in response to Russia’s invasion of Ukraine.
According to a Bloomberg report (Paywall), the DOJ has launched an investigation into Binance, but the regulator has not charged the exchange or its executives with any wrongdoing. This is not the first time Binance has been scrutinised for assisting people in evading sanctions. Last year, the company was accused of assisting Iranian firms in trading billions of dollars despite sanctions. According to the report, Binance officials assisted Russian nationals in accessing and transferring funds through its exchange in order to avoid US sanctions.
Binance has, of course, denied any wrongdoings and assured that it is in compliance with US and international sanctions.
(With inputs from Shikha Singh)
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