Binance Denies Direct Crypto Transactions with Iranian Entities
- Binance reported no direct transactions with Iranian entities, countering claims of $1.7 billion in crypto flow.
- An internal review revealed only indirect exposure to wallets potentially linked to Iran.
- The exchange removed accounts related to flagged wallets, including Hexa Whale and Blessed Trust.
- Binance’s compliance program is said to be continuously improving, addressing credible risk information.
- Senator Richard Blumenthal initiated the investigation following media reports about potential terrorist financing connections.
The inquiry into Binance was prompted by allegations of facilitating funds to Iran-linked organizations, including Yemen’s Houthi militants. The exchange’s response emphasizes its commitment to compliance and proactive account management.
In its findings, Binance stated that it had offboarded two entities connected to suspicious wallets after thorough investigations, reinforcing its rigorous compliance efforts amidst ongoing scrutiny.(Source)
