Binance Unlicensed as CoinEx Faces Allegations of Sanctioned Funds Facilitation

Spanish regulator, the National Securities Commission (CNMV), has stated that there will be no extensions for EU crypto deadline. Meanwhile, Binance remains unlicensed in Spain.

CoinEx, a Seychelles-based crypto exchange, is facing allegations from TRM Labs that it knowingly served as a conduit for billions of dollars in sanctioned Iranian funds.

TRM Labs reported that over $3.84 billion flowed between CoinEx and more than 60 sanctioned Iranian platforms over a seven-year period.

CoinEx denied the allegations, stating that it operates as a global exchange serving ordinary users worldwide with no official ties to Iranian authorities or sanctioned entities.