The U.S. Department of Justice is reportedly investigating the possible use of Binance Holdings to facilitate illegal activities such as money laundering and Russian sanctions violations.
The possibility of illicit activities forced the global regulators to call for tighter controls on crypto exchanges, including Binance, which is currently the largest exchange in the world.
The recent seizures by Israel’s NBCTF (National Bureau for Counter Terror Financing) on Jan 12 document, highlight the government’s increased efforts to target crypto companies in its fight against illegal activity.
In their fight against illegal practices, NBCTF highlights the government’s growing efforts to prosecute cryptocurrency companies. Recently, NBCTF has seized Binance accounts linked to the Islamic State.
According to Bloomberg News, the National Security Division of the Justice Department is looking into whether Binance or any of its employees broke any laws regarding Russia’s invasion of Ukraine.
Neither Binance nor the DoJ have commented on the matter.
