Seven Iranians say used Binance for crypto after U.S. reimposed Iran sanctions
Weak background checks, deep liquidity drew Iranians to Binance, traders say
News of Iranian trading on Binance could draw U.S. regulatory scrutiny, lawyers say
LONDON, July 11 (Reuters) - The world's largest crypto exchange, Binance, continued to process trades by clients in Iran despite U.S. sanctions and a company ban on doing business there, a Reuters investigation has found.
In 2018, the United States reimposed sanctions that had been suspended three years earlier as part of Iran's nuclear deal with major world powers. That November, Binance informed traders in Iran it would no longer serve them, telling them to liquidate their accounts.
But in interviews with Reuters, seven traders said they skirted the ban. The traders said they continued to use their Binance accounts until as recently as September last year, only losing access after the exchange tightened its anti-money laundering checks a month...
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