DOJ To Investigate Binance Again. Could More Fines Follow?
Key Summary
The US Department of Justice is reviewing Binance's compliance with a 2023 settlement deal, amid concerns over suspected sanctions breaches and money laundering. The investigation is centered around Binance's response to suspicious trades and its handling of accounts tied to Iranian payment networks. If found guilty, Binance could face additional fines or stricter oversight.
DOJ Scrutinizes Binance Compliance Amid Fears of Further Fines
Investigation Unfolds
The US Department of Justice is re-examining Binance's compliance with a 2023 settlement deal worth $4.3 billion. This comes as federal prosecutors investigate whether the world's largest crypto exchange broke the terms of that agreement. Tysen Duva, head of the Justice Department's Criminal Division, confirmed the review to Bloomberg. Three key developments have raised questions about Binance's actions.
Suspicious Trades
A suspected Iranian payment network processed around $850 million through Binance, according to The Wall Street Journal. This includes accounts tied to financier Babak Zanjani. Binance claims to have closed these accounts.
Forfeiture Case
A $61 million forfeiture case was filed in September, alleging that two Chinese firms, Blessed Trust and Hexa Whale, used Binance accounts to launder proceeds from Iranian oil sales. Binance asserts it investigated and removed both companies.
Sanctions Violations
Prosecutors are examining whether Binance knowingly allowed prohibited trades, an investigation that overlaps with the other two cases. The DOJ has not disclosed which incidents, if any, are part of the settlement review. No wrongdoing has been alleged against Binance or its employees in the forfeiture complaint.
Past Precedents
In 2023, Ericsson breached a deferred-prosecution agreement and paid $206.7 million. Standard Chartered faced penalties in 2019 for historical Iran sanctions violations. Boeing breached its agreement in 2024 but secured a new non-prosecution deal in 2025. These cases differ from Binance's, as it already pleaded guilty in 2023.
Possible Outcomes
Past cases suggest several possible outcomes, including tougher compliance oversight, additional fines, or fresh criminal proceedings. A negotiated resolution appears more plausible than an immediate move against Binance's operations. Prosecutors would need stronger evidence to pursue criminal charges if they allege deliberate sanctions breaches or concealment. The deciding question is what Binance knew about suspicious activity and how quickly it acted.