U.S. federal prosecutors are investigating whether the cryptocurrency exchange Binance violated U.S. sanctions against the Islamic Republic of Iran by not preventing certain transactions on its platform.

According to Bloomberg, the Manhattan U.S. Attorney’s Office, in collaboration with the Criminal Division of the Department of Justice, is leading the investigation and examining whether Binance knowingly allowed these transactions.

In a statement, Binance said it has “zero tolerance” for violating sanctions and “fully cooperates with law enforcement agencies.”

Changpeng Zhao, Binance’s former CEO, admitted to violating U.S. anti-money-laundering laws and stepped down in 2023 under a $4.3 billion settlement agreement.