Binance sues WSJ over 'Iran sanctions' allegations, citing "false reporting"

JOON HYOUNG LEE

Summary

Global cryptocurrency exchange Binance said it has sued The Wall Street Journal over reporting related to allegations that Iran evaded U.S. sanctions.
Binance said it filed the lawsuit, arguing that The Wall Street Journal has repeatedly published false and defamatory reports.
Binance said the coverage weakens trust across the broader cryptocurrency industry and undermines user protection and sound innovation.

Forecast Trend Report by Period

Global cryptocurrency exchange Binance has filed a lawsuit against The Wall Street Journal (WSJ) over reports alleging that Iran used Binance as a conduit for funds to evade U.S. sanctions.

In a post on its official X account, Binance said on the 11th (local time) that it had brought the suit because "The Wall Street Journal published false and defamatory reports." Binance added that "The Wall Street Journal continues to report the same falsehoods," calling the lawsuit "an unavoidable step to push back against misinformation and hold The Wall Street Journal accountable for putting clicks ahead of journalistic principles."

The Wall Street Journal reported the same day that the U.S. Department of Justice (DOJ) has opened an investigation into allegations that Iran used Binance to evade U.S. sanctions. The Wall Street Journal has recently continued to report on claims that Binance was used as a channel for sanctions evasion by Iran.

Binance emphasized that "this type of reporting undermines trust across the (cryptocurrency) industry." It added that it "also hampers the efforts of companies working to protect users and promote sound innovation."

BNB