Reuters: Despite sanctions, Binance still helped Iranian companies trade $8 billion

2022-11-05 00:04:49

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ChainCatcher news, according to Reuters, despite U.S. sanctions aimed at cutting Iran off from the global financial system, the cryptocurrency exchange Binance has processed $8 billion worth of Iranian transactions since 2018.

Data reviewed by Reuters shows that approximately $2.95 billion in cryptocurrency has been directly transferred between Iranian exchanges and Binance since 2018. An additional $5 billion in cryptocurrency has been transferred between Iranian exchanges and Binance through intermediaries. Chainalysis data indicates that Nobitex users began transferring Bitcoin through Binance in April 2018. Since August 2020, there has been a surge in Tron trading volume between Nobitex and Binance. Data shows that just this October, $20 million in Tron flowed directly between Binance and Nobitex. (source link)

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