OOOOOOF even with President Trump this is going to be a huge under the radar issue for Binance. For the banks this is a huge win to push back with the CLARITY Act and is only going to lead to more issues for Binance.
This article is absolutely damming.
People in Iran had gained access to more than 1,500 accounts on the Binance platform over the previous year. About $1.7 billion had flowed from two Binance accounts to Iranian entities with links to terrorist groups, a possible violation of global sanctions. And one of those accounts belonged to a Binance vendor.
After uncovering the transactions, the investigators reported them to top executives, according to company records and other documents reviewed by The New York Times.
Within weeks, Binance fired or suspended at least four employees involved in the investigation, according to the documents and three people with knowledge of the situation.
Yeah, it may even be time for Elizabeth Warren to get back on the warpath with her braves.
I mean it was either last week or the week before she was banging the drum saying no bailouts for crypto which honestly fair I agree with but at the same time she will bail out or subsidize what she wants so…. Ma’am what?
How do you send 1.7 billion from 'binance accounts'... To Iranian entities?
What the inside word on the CLARITY act anyhow? Is it going tits up?