Binance refutes Fortune report alleging sanctions-violating transactions with Iran, firing of compliance investigators. Internal investigators found over $1 billion in transfers linked to Iranian entities using Tether’s USDt stablecoin on Tron blockchain. Binance denied any violations, saying no investigators were fired for raising concerns or reporting potential sanctions issues.

Binance conducted a full internal review with legal advice, finding no evidence of sanctions law violations. The exchange denied claims of failing to meet regulatory obligations and continues to cooperate under monitoring. Binance remains under scrutiny since 2023 settlement with US authorities for Anti-Money Laundering violations, founder Changpeng Zhao stepped down as CEO.

A Financial Times report also questioned Binance’s compliance controls, alleging suspicious accounts moved significant sums through the exchange post-criminal settlement. Binance spokesperson rejected the report’s framing, stating all transactions are assessed based on available information at the time. None of the referenced wallets were sanctioned during the mentioned activity.

Read more at CoinTelegraph: Binance Rejects Claims of Iran-Linked Transactions and Staff Firings