Binance faces US probe of possible Russian sanctions violations – Bloomberg News

The U.S. Justice Department is investigating whether Binance Holdings was illegally used to let Russians skirt U.S. sanctions and move money through the cryptocurrency exchange, Bloomberg News reported on Friday, citing people familiar with the matter.

Regulators globally have long called for tighter controls on crypto exchanges including Binance, the world’s largest, to prevent illegal activities – from money laundering to the financing of terrorism.

Source: UPDATE 1-Binance faces US probe of possible Russian sanctions violations – Bloomberg News