Binance said it's unaware of any US Department of Justice (DoJ) probe into its alleged involvement in Iran’s use of stablecoins to bypass US sanctions, following the latest Wall Street Journal article on the matter.
Binance Says it's Unaware of Justice Department Iran Probe; Files Suit vs WSJ
11 March 2026 - 14:26 CET
Responding to questions from Sandmark, the exchange operator said recent reporting by the WSJ was incorrect and its interactions with the DoJ don't go beyond regular collaboration.
Regulators, law enforcement
"We are not aware of any investigations. But as always, we are collaborating with regulators and law enforcement to investigate the facts," Binance said in a 11 Mar emailed statement, adding that it's suing the newspaper.
According to the WSJ, the US is investigating whether executives were aware of a connection between trading activity and Iran. In an earlier article published in February, the WSJ alleged that Binance had dropped a staff investigation into $1bn, which was linked to Iran. Binance’s alleged actions drew the ire of US senators, who subsequently requested a federal government probe into the matter.
"Binance categorically did not dismantle any compliance investigation," the company said in the statement. "The WSJ continues to report the same falsities. As a result, we have filed a lawsuit against the Wall Street Journal for defamation."
Binance rather positioned itself as a collaborative partner in rooting out illicit money flows.
"The truth is that Binance’s investigation continued and uncovered a sophisticated, multi-jurisdictional pattern of financial activity spanning Asia, the Middle East, and beyond. Binance mapped this complex activity, offboarded the relevant user accounts, and reported to law enforcement," the company added.
Token slippage
Binance's BNB token recovered with two hours after sliding 1% immediately following the 11:00UTC timestamp of the WSJ article.
The media dispute comes after the US and Israel attacked Iran in an aerial bombardment beginning 28 Feb. Before the conflict, Iranian agencies were reportedly looking to amass weapons through crypto payments.
The WSJ wrote in the 11 Mar article that it couldn’t determine whether the Justice Department is investigating Binance itself for potential misconduct, or solely the customers on its platform.
