The United States has launched an investigation against the Binance crypto exchange. The platform is suspected of helping Russians circumvent sanctions

The US Department of Justice has launched an investigation into the Binance crypto exchange. As Bloomberg reports, citing sources, authorities suspect the platform of allowing Russians to illegally circumvent sanctions.

As part of the investigation, the Ministry of Justice intends to find out whether the management of the exchange violated restrictions related to Russia’s invasion of Ukraine.

Binance said it is in full compliance with all US and other international sanctions. Representatives of the exchange emphasized that they adhere to a policy of intolerance towards the anonymity of clients and dubious sources of money.

• In April 2022, Binance, in accordance with EU sanctions, set a limit of 10 thousand euros on the account balance for Russians, but a year later these restrictions were lifted. Experts assumed that the company transferred them to an affiliated legal entity located in another jurisdiction. Later, Binance returned the ability to top up your account from Visa and Mastercard cards of Russian banks.
• Binance has repeatedly been the target of investigations by US authorities. The exchange, in particular, was suspected of facilitating money laundering, as well as trading in unregistered securities.