Binance under investigation for possibly skirting sanctions against Russia

Binance has a fresh pair of eyes on its business dealings, this time belonging to the U.S. Department of Justice.Bloomberg reported that the crypto exchange (currently the world's largest) is facing a DOJ probe over possibly allowing Russians to move money in a way that would violate U.S. sanctions. Per Bloomberg's report, Binance has also talked to the DOJ about older, similar complaints related to sanctions against Iran. SEE ALSO: Binance ran away from the FTX deal. The U.S. Department of Justice wants to know why. Binance, of course, denied any wrongdoing in a statement. The company emphasized that it "launched an initiative to completely overhaul its corporate governance structure" in 2021, becoming compliant with international sanctions.It's worth noting that no formal accusation has been made against Binance, as this is just a probe. It may be some time before accusations manifest—if they manifest at all. In 2021, Binance was under a similar investigation related to possible money laundering. Binance became the world's biggest crypto exchange late last year, as FTX infamously collapsed. At one point, Binance planned to bail out FTX financially, but that eventually fell through. At least the crypto world is never boring.