The US Justice Department is investigating if Binance, the world’s largest cryptocurrency exchange, was used to bypass US sanctions by Russians and move money illegally. Regulators have long advocated for stricter regulations on cryptocurrency exchanges in order to avoid criminal activity such as money laundering and terrorism financing. The investigation is looking into whether Binance or its executives violated sanctions relating to Russia’s invasion of Ukraine. This comes as governments target cryptocurrency companies in order to prevent illicit activities, as evidenced by recent seizures by Israel’s NBCTF.