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

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