Nobitex didn't respond to questions for this article. However, we have taken proactive steps to limit our exposure to the Iranian marketplace," working with industry partners and internal tools.īinance declines to give details of the location or the entity behind its exchange. company, unlike other platforms that have exposure to these same U.S. In a statement, spokesperson Patrick Hillmann said, " is not a U.S. The exchange's billionaire founder, Changpeng Zhao, tweeted: "Binance banned Iranian users after sanctions, 7 got missed/found a workaround, they were banned later anyways."īinance didn't answer detailed questions about the new transactions uncovered by Reuters. The day of that article's publication, Binance said in a blog post that it follows international sanctions rules on Iran and blocks access to the platform to anyone based there. It was one of a series of Reuters investigations into Binance's troubled history with financial regulatory compliance. In July, Reuters revealed that Binance continued to serve clients in Iran and that the exchange's popularity in the Islamic republic was known inside the company. prohibitions on doing business with Iran, lawyers and trade sanctions experts said. ![]() The transactions put the company at risk of falling afoul of U.S. Justice Department is pursuing an investigation into possible violations of money-laundering rules by Binance, which dominates the $1 trillion crypto industry, with over 120 million users.
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