Binance says Blumenthal Iran sanctions probe relies on ‘demonstrably false’ reporting

Binance sent an open letter to U.S. Senator Richard Blumenthal, asserting that his recent inquiry into alleged sanctions violations related to Iran is based on "demonstrably false" and defamatory reporting. Blumenthal initiated the probe following media reports alleging that Binance partners, Hexa Whale and Blessed Trust, laundered money and traded with Iranian government entities. Binance countered that its partners only had "indirect exposure" to Iran-linked wallets, that no Binance account transacted directly with an Iran-based entity, and that it has significantly reduced exposure to Iranian crypto exchanges. The exchange also highlighted its robust compliance tools, noting a 97% drop in exposure to illicitly-linked wallets. This dispute follows Binance and former CEO Changpeng Zhao's guilty plea to sanctions breaches and money transmitting violations, resulting in a $4.3 billion penalty.

(Source：The Block)