U.S. Justice Department reviews Binance's compliance with 2023 settlement

The U.S. Justice Department is examining Binance's compliance with its government settlement amid an investigation into possible Iran sanctions violations, Bloomberg reported.

Tysen Duva, who heads the department's criminal division, confirmed in an interview that officials were reviewing compliance with the 2023 agreement. He did not say a breach had been established. Binance then pleaded guilty to banking-rule violations, agreed to pay $4.3 billion and accepted stronger compliance controls.

In September, Manhattan prosecutors sought forfeiture of about $61 million in cryptocurrency they alleged was connected to black-market Iranian oil sales and transactions through Binance. The forfeiture request does not itself establish wrongdoing by the exchange. Bloomberg reported that neither the company nor its employees had been accused of wrongdoing in the ongoing probe. Binance said it was improving its controls and committed to cooperating with law enforcement.