TechFlow news — In response to a Reuters report claiming that Binance continued serving Iranian customers after U.S. sanctions were imposed on Iran, a Binance spokesperson told The Block that compliance and regulatory programs have long been a major focus for the company. Its sanctions program fully complies with all international financial sanction regulations, including blocking access to users from countries such as Iran and North Korea. Binance has implemented advanced detection tools designed to further combat technologies like VPNs.
Earlier, Reuters reported that based on interviews with Iranian traders, Iranian users were accessing Binance via VPNs to bypass restrictions. Reuters also noted that relevant experts believe Binance’s actions could prevent it from gaining access to the U.S. market.
Previously, CZ posted on X stating that Binance has been using Thomson Reuters’ “Reuters WorldCheck” as one of its KYC verification tools since 2018. (The Block)
