U.S. Department of Justice says Iranian oil revenues were laundered through Binance and seeks to seize $61 million.

TechFlow reports that on September 15, Bloomberg stated the U.S. Department of Justice is seeking to seize $61 million, alleging the funds originated from Iran's black-market oil sales and were laundered through cryptocurrency exchange Binance. Manhattan federal prosecutors allege in a civil forfeiture lawsuit that Iran utilized a network of cryptocurrency participants to launder over $1.5 billion in illicit oil revenue. Prosecutors state that related entities used Binance trading accounts to transfer oil proceeds to Iran and its proxies and affiliated organizations to fund military and terrorist activities.