Binance Accused of Allowing Sanctioned Iranian Transactions

Binance, one of the world's leading cryptocurrency exchanges, is facing fresh allegations of failing to prevent transactions linked to sanctioned Iranian entities.

According to a Wall Street Journal investigation, Binance processed $850 million in cryptocurrency transactions connected to networks associated with Iran's Islamic Revolutionary Guard Corps over a two-year period.

The investigation found that internal compliance teams at Binance flagged suspicious activity, including access from Tehran and potential sanctions circumvention, but the accounts allegedly remained operational for over 15 months.