BINANCE IS BACK UNDER U.S. SCRUTINY OVER ALLEGED IRAN OIL FLOWS
The U.S. Department of Justice is targeting $61M in crypto that prosecutors say came from Iranian black-market oil sales and moved through Binance accounts.
According to the DOJ complaint, two Chinese entities, Blessed Trust and Hexa Whale, used Binance trading accounts as part of a scheme involving proceeds from Iranian crude oil and petroleum products.
Prosecutors allege that a wider network moved more than $1.5B in Iranian oil proceeds through crypto addresses, with some funds ultimately linked to Iran and its proxies. The current action is a civil forfeiture case, meaning the allegations have not been established by a final court judgment.
Binance has disputed previous reporting around the case, saying it proactively investigated and removed both entities and that it had no direct transactions with Iran-based entities.
This comes after Binance’s 2023 guilty plea to U.S. anti-money-laundering and sanctions violations, followed by a roughly $4.3B settlement.
Could this become another major compliance test for Binance? Comment below. 👇
#Binance #CryptoRegulation $BNB
The U.S. Department of Justice is targeting $61M in crypto that prosecutors say came from Iranian black-market oil sales and moved through Binance accounts.
According to the DOJ complaint, two Chinese entities, Blessed Trust and Hexa Whale, used Binance trading accounts as part of a scheme involving proceeds from Iranian crude oil and petroleum products.
Prosecutors allege that a wider network moved more than $1.5B in Iranian oil proceeds through crypto addresses, with some funds ultimately linked to Iran and its proxies. The current action is a civil forfeiture case, meaning the allegations have not been established by a final court judgment.
Binance has disputed previous reporting around the case, saying it proactively investigated and removed both entities and that it had no direct transactions with Iran-based entities.
This comes after Binance’s 2023 guilty plea to U.S. anti-money-laundering and sanctions violations, followed by a roughly $4.3B settlement.
Could this become another major compliance test for Binance? Comment below. 👇
#Binance #CryptoRegulation $BNB
