According to CoinMeta, U.S. federal prosecutors are investigating whether Binance has violated sanctions against Iran by failing to prevent certain transactions on its platform. The case is being handled by the U.S. Attorney's Office in Manhattan, with the Criminal Division of the Department of Justice also participating. Relevant authorities are examining whether the exchange intentionally allowed these transactions to occur. The details of the transactions under investigation are not yet clear, and the DOJ's investigation may end without any charges being filed. Binance stated in a statement, "We have a zero-tolerance policy towards violations of sanctions," and added that it cooperates with law enforcement authorities. Nearly three years ago, Binance pleaded guilty to failing to comply with U.S. banking and sanctions laws, paid a fine of $4.3 billion, and agreed to be supervised by two corporate monitors. Zhao Changpeng, co-founder of Binance, once resigned from his role as CEO, served a four-month sentence, and was pardoned by President Trump last year. According to Fortune, internal investigators discovered that over $1 billion in funds flowed through the platform to entities related to Iran, after which he was fired.