Bloomberg: Binance crypto exchange suspected of helping Russians circumvent sanctions

The U.S. Department of Justice has launched an investigation into the Binance crypto exchange over suspicions that the platform enabled Russians to circumvent sanctions. Bloomberg reports this with reference to five sources.

According to the news agency, the National Security Division of the US Department of Justice is currently checking whether the crypto exchange or its officials violated restrictions related to the Russian invasion of Ukraine. The Department’s criminal division is also conducting the investigation. Binance is also discussing with the US Department of Justice past claims against the exchange related to the circumvention of sanctions against Iran.

Representatives of the crypto exchange said that the company is «in full compliance with all US and international sanctions.» They added that the platform adheres to a zero-tolerance policy towards multi-registrations, anonymous identities, and hidden sources of asset origin.

Experts suggest that to solve legal problems, the company «transferred» Russian clients to another non-EU legal entity in order not to violate European sanctions.