Summary
- Binance said reports alleging Iran sanctions breaches and the dismissal of an internal investigator are not true.
- Binance said it did not violate U.S. or international sanctions rules, and that it blocked the relevant accounts after an internal review and reported the matter to law enforcement.
- Binance said it would pursue legal action, including filing a defamation lawsuit against The Wall Street Journal (WSJ), which ran the report.
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Binance, the global crypto exchange, has categorically denied allegations that it violated Iran-related sanctions and dismissed an internal investigator.
On the 16th (local time), Richard Teng, co-CEO of Binance, said on X (formerly Twitter) that reports claiming an internal employee who investigated Iran-linked transactions was fired are not true.
"No employee has been terminated for raising compliance issues," he said, adding that "Binance has not violated U.S. or international sanctions rules."
Regarding Iran-related transactions, he explained that there were three unverified intermediary wallets between a Binance wallet and the ultimate receiving wallet, and that after an internal review the firm blocked the relevant accounts and reported the matter to law enforcement.
He added, "There was no instance of funds flowing directly from a Binance wallet to a sanctioned party or an Iran-linked entity." Binance has previously said it would pursue legal action, including filing a defamation lawsuit against The Wall Street Journal (WSJ), which published the report.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
