Exclusive-Crypto exchange Binance helped Iranian firms trade $8 billion despite sanctions

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Reuters UK

By Angus Berwick and Tom Wilson LONDON (Reuters) – Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show. Almost all the funds, some $7.8 billion, flowed between Binance and Iran’s largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis. Nobitex offers guidance on its website on how to skirt sanctions. Three-quarters of the Iranian funds that passed through Binance were in a relatively low-prof…

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