Binance Served Crypto Traders in Iran Despite US Sanctions, Clients Say

The world's largest crypto exchange, Binance, continued to process trades by clients in Iran despite U.S. sanctions and a company ban on doing business there, a Reuters investigation has found. From the report: In 2018, the United States reimposed sanctions that had been suspended three years earlier as part of Iran's nuclear deal with major world powers. That November, Binance informed traders in Iran it would no longer serve them, telling them to liquidate their accounts. September last year, only losing access after the exchange tightened its anti-money laundering checks a month earlier. Until that point, customers could trade by registering with just an email address.

money laundering = FPMIA prsion TIME

[Joe_Dragon]

money laundering = FPMIA prsion TIME

Re:

[DarkRookie2]

Doubtful. This is white collar stuff. No one ever really punished with those, unless some politician wants a daily headline or something.

Re:

[GameboyRMH]

Or unless they steal from the rich like Bernie Madoff. Notice he got a nearly 10x longer sentence than Scott Tucker, who did far more harm to people who weren't just gambling excess money in the stock market.

Re:

[DarkRookie2]

Bernie Madoff was an old man anyways. They bumped it up to make themselves look better in the press.

good

[bugs2squash]

why should only americans get fleeced by crypto.

Re:

[gosso920]

Craptocurrency did to Iranian finance what Stuxnet did to its nuclear weapons program.

So what

[qbast]

Binance is not headquartered in US so would it give a damn about America sanctions?

Re:

[dhaen]

Well the Cayman Islands military is barely a match for the US, so I think they give a damn, particularly as they are US regulated.

The US rightly or wrongly controls far more than their country.

It's only fair

[Rosco P. Coltrane]

Why should only Americans get the good scams?