The crypto exchange is being scrutinised over whether is has allowed Russian customers to use the platform, as it violates U.S. sanctions
The U.S. Department of Justice is conducting an inquiry into whether Binance allowed Russian customers to access the exchange.
This is in violation of U.S. sanctions related to Russia’s invasion of Ukraine.
The exchange has repeatedly pushed back against allegations by saying it has built the world’s largest compliance team in the space.
The Securities and Exchange Commission has also been investigating Binance for its relationship with two firms owned by its founder Changpeng Zhao since at least early 2022.
This all comes on the back of the crypto exchange having to pause Bitcoin withdrawals for over an hour, due to a congestion issue.
It’s the second time this event has occurred since March, where deposits and withdrawals were stopped for technical issues.
