Binance Probed by US Over Russia Sanctions Evasion: Crypto in DC

Binance Holdings Ltd. is under investigation by the US Justice Department over whether Russians used the world’s largest cryptocurrency exchange to skirt sanctions and move money, according to people familiar with the matter, marking the latest of the firm’s mounting legal challenges.

The company, which has already been in discussions with the department to resolve previous complaints that the platform was used to evade Iran-related sanctions, said it complies fully with all US and international financial sanctions.

The Commodity Futures Trading Commission sued Binance in March, accusing the company of breaking the US derivatives regulator’s rules for years, while the ...