Did Binance Help Iran Avoid Financial Sanctions. Iran is a sanctioned country.
14 Dec 2022, 08:00
Did Binance Help Iran Avoid Financial Sanctions?
Iran is a sanctioned country. It’s not allowed to engage in certain activities unless the United States says so. Despite all this, popular digital currency exchange Binance still enabled the country to engage in crypto trades nearing $8 billion at press time.
Binance Is Alleged to Have Aided IranAlmost all the trades occurred between Binance and Nobitex, a crypto exchange based in the Middle Eastern country. This data comes directly from blockchain analysis firm Chainalysis, which recently produced a report discussing how sanctioned countries will often use crypto to avoid financial penalties.