U.S. federal prosecutors are reportedly investigating whether Binance knowingly allowed trading connected to Iran that should have been blocked under U.S. sanctions law. The Bloomberg-reported inquiry is separate from a Manhattan forfeiture action seeking $61 million in cryptocurrency allegedly tied to black-market sales of sanctioned Iranian oil and laundered through Binance by Chinese entities. Earlier reports said more than $1 billion, or as much as $1.7 billion, moved through the platform to Iran-linked entities, while Binance disputed those figures and said at most $126.1 million reached Iran-linked wallets after multiple transfers, including up to $24.1 million linked to the Islamic Revolutionary Guard Corps. Binance says it has a zero-tolerance policy for sanctions violations and cooperates with law enforcement. U.S. enforcement has also expanded to Iranian digital-asset activity, including Treasury's designation of Iranian exchange BitBank, which OFAC said was controlled by sanctioned financier Babak Zanjani and helped move funds tied to sanctioned Iranian entities. Binance pleaded guilty in 2023 to failing to comply with U.S. banking and sanctions law, paid $4.3 billion and accepted two corporate monitors.