Crypto exchange Binance is reportedly facing an investigation by the US Internal Revenue Service as well as the Department of Justice.

Details: Officials who investigate money laundering and tax offenses have sought information from individuals with insight into Binance’s business, Bloomberg reported, citing people familiar with the matter. 

The officials involved include prosecutors within the Justice Department’s bank integrity unit and investigators from the US Attorney’s Office in Seattle, according to the report.

Bloomberg said that the specifics of what the agencies are examining couldn’t be determined, and not all inquiries lead to allegations of wrongdoing.

A Binance spokesperson told the press: "we take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion."

Context: Chainalysis, a blockchain forensics firm, said last year that Binance and the cryptocurrency exchange Huobi "lead all exchanges in illicit Bitcoin received by a significant margin."

Bloomberg reported in March that the cryptocurrency exchange was facing an investigation by the Commodity Futures Trading Commission.

As the world's largest crypto exchange, Binance claims that it does not provide services to US residents.