May 5 (Reuters) - The US Justice Department is investigating whether Binance Holdings was illegally used to allow Russians to circumvent US sanctions and move money through the cryptocurrency exchange, Bloomberg reported on Friday. News, citing people familiar with the matter.
Regulators around the world have long called for tighter controls on crypto exchanges, including Binance, the world's largest, to prevent illegal activity, from money laundering to terrorist financing.
He recent The seizures made by Israel's NBCTF also highlight how governments are targeting cryptocurrency companies in their efforts to prevent illegal activities.
The investigation by the Justice Department's national security division is looking into whether Binance or company officials breached sanctions related to the Russian invasion of Ukraine, according to the report. sayingciting five people.
Binance and the Justice Department did not immediately respond to Reuters requests for comment.
Reporting by Jose Joseph in Bangalore; Edited by Maju Samuel
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