Crypto dealers in Iran have bypassed the bony ban after US sanctions
Crypto dealers in Iran have bypassed the bony ban after US sanctions
- Reuters found that some crypto retailers in Iran were still able to access Binance despite US sanctions and a ban on corporate ban
- The stock exchange said that it had blocked access for everyone in Iran out of respect for the USA
Binance, the cryptocurrency exchange worldwide according to trade volume, could have allowed customers in Iran to act on their platform and thus avoid a ban from 2018 that was imposed after a round of US sanctions against the country due to its nuclear ambitions.
binance confirmed the situation on a Monday Blogging by Chagri Poyaz, the global head of the sanction department of the company, which says that dealer geographical restrictions can bypass you by using VPNS (virtual private networks).
While Binance does not have an official basis, said CEO Changpeng Zhao wealth March that the company "very soon" one will announce ordinary headquarters. Due to its international presence, Binance is expected to adapt to international sanction laws.
The United States again imposed sanctions against Iran withdrawn from the Iranian nuclear agreement. According to reports, Binance to take off.
In his blog post, Poyraz found that Binance is not a company based in the USA and has no headquarters there, but has blocked access to dealers in Iran out of respect for America's role in the global economy.
Against this background, I cannot ignore the elephant in the room about dealers in sanctioned jurisdiction that use easily available tools such as VPNs to access platforms, "he wrote and pointed to the Federal Trade Commission and Agency for cyber security and infrastructure security Recommendation of free VPN use."While we are actively working on identifying users based on additional factors such as user behavior in contrast to pure geolocalization, some users slip through the cracks as they do for every other company," added Poyaz.
reports reported joked by Binance on the popularity in Iran
Nevertheless, seven dealers told Reuters that they had to be avoided to the ban and that their Bony accounts would have continued to use in September 2021. They lost access after the company tightened its anti-money laundering rules a month earlier.
Binance seemed to have weak controls up to this point and only required simple email registration to register. A dealer based in Tehran said Reuters that he prefers to use Binance because no identity examination is required.
The exchange was apparently aware of its popularity in Iran, since high -ranking managers in 2019 and 2020 jokingly exchanged text messages, the report says and referred to a message "Iran Boys" that was written in relation to data that prove its popularity on Instagram on Iran. based user.
Binance is "completely compliant with all international financial sanctions, including the blocking of the platform access for users in Iran, North Korea and many others," said a spokesman for block works in an email response.
The report by Reuters comes about a month after his In alleged money laundering on the platform of Binance. The point of sale claimed that Binance has handled illegal transactions with a total value of around $ 2.3 billion in connection with hacks, investment fraud and illegal drug transactions.
The investigation showed that North Korean hackers created Binance accounts and finally stolen stolen crypto to the Slovak crypto exchange Eterbase. According to the Eterbase CEO, Binance said "no idea who moves money through their stock exchange".
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The article Crypto Traders in Iran Skirted Binance Ban Following Us Sanctions is not a financial advice.