Binance CEO Refutes WSJ Claims of $850M in Iran-Linked Transactions
- A Wall Street Journal report alleges that Binance processed $850 million in transactions connected to Babak Zanjani, a sanctioned Iranian financier.
- The report claims Binance’s internal compliance flagged Zedcex accounts for suspicious activity, but they remained active for over a year.
- Binance had previously pleaded guilty to anti-money laundering violations in exchange for a $4.3 billion fine.
- The Journal also reported that Iran’s central bank moved $107 million into Binance accounts and tracked $260 million in transactions with Iranian terrorist financiers.
- Richard Teng stated that Binance has a zero-tolerance policy for illicit activities and operates a leading compliance program.
Richard Teng has labeled the WSJ’s reporting as “fundamentally inaccurate,” asserting that flagged activities occurred before sanctions were imposed on involved individuals. The ongoing scrutiny highlights the challenges cryptocurrency exchanges face regarding compliance and regulatory oversight.
Despite the allegations of facilitating significant transactions linked to Iran, Teng emphasized Binance’s commitment to compliance following their record fine of $4.3 billion for previous violations. (Source)
