U.S. seeks to seize $61 million of crypto it claims are proceeds from Iranian petroleum sales to Chinese buyers

The U.S. Department of Justice filed a civil forfeiture action seeking to seize approximately $61 million in cryptocurrency held in Binance accounts. According to the DOJ, two Chinese companies used the accounts to process funds from Iranian petroleum sales to Chinese buyers. The department alleges the cryptocurrency was then moved to Tehran or entities affiliated with Iran.

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