US EditionBinance: $1.7 Billion In Iran-Linked Crypto Flows Are 'Demonstrably False'
Binance identified no direct transactions with Iranian entities but found indirect links, removing implicated accounts and cooperating with U.S. authorities in a detailed review.
- On March 6, Binance told the U.S. Senate Permanent Subcommittee on Investigations it found no evidence of direct transactions with Iranian entities, saying its internal review revealed only indirect exposure and removed related accounts.
- Following media reports that internal investigators had identified transactions tied to Iranian entities, the review began after law enforcement contacted Binance last April, prompting an inquiry by Sen. Richard Blumenthal, D-Conn., in investigations.
- Binance identified two accounts, Hexa Whale and Blessed Trust, that interacted with flagged wallets and removed Hexa Whale in August, offboarding Blessed Trust in January after investigations.
- Binance disputed reports that compliance investigators were dismissed, saying most left voluntarily and one terminated employee violated company policy, calling coverage by New York Times, Wall Street Journal and Fortune 'demonstrably false.'
- Binance emphasized its compliance program, stating it investigates, mitigates, offboards accounts, and reports to appropriate authorities when facing credible risk information, adding that `Binance has a rigorous compliance program that is consistently growing stronger.
24 Articles
24 Articles
Binance Formally Rejects US Senate Claims of Iran Sanctions Violations
The world’s largest crypto exchange has issued a formal response to a letter from US Senator Richard Blumenthal, strongly rejecting claims that its compliance systems are weak or that it enabled any sort of illicit financial activity. Binance indicated that the media reports cited in the Senate inquiry contain “false, unsupported, and defamatory claims” about its sanctions controls and AML procedures. Binance Responds The statement emphasized th…
Binance Claps Back At Senator Blumenthal’s Allegations, Denouncing False Claims
Binance has formally responded to US Senator Richard Blumenthal (D-CT) following a congressional letter in which the lawmaker cited media reports alleging the company enabled large-scale violations of US and international sanctions involving Iran. In an open letter published Friday, Binance rejected the claims and accused the senator of relying on what it described as […]
Binance Claps Back At Senator Blumenthal's Allegations, Denouncing False Claims
Binance has formally responded to US Senator Richard Blumenthal (D-CT) following a congressional letter in which the lawmaker cited media reports alleging the company enabled large-scale violations of US and international sanctions involving Iran. In an open letter published Friday, Binance rejected the claims and accused the senator of relying on what it described as false and defamatory reporting. Binance Denies Enabling Iranian Money Launder…
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