Former Binance CEO CZ waves off accusations on Iran, terror ties

Changpeng 'CZ' Zhao, founder of Binance and former CEO, spoke remotely at the Digital Chamber's DC Blockchain Summit in Washington to distance himself from reports that the exchange aided terrorism financing through Iran.

“Former Binance CEO CZ waves off accusations on Iran, terror ties The founder of the world's largest exchange distanced himself from reports about Binance activity that reports had recently suggested aided terrorism”

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He said he has 'zero interest' in being involved with Iran, noting he lives in the United Arab Emirates, which Iran recently attacked.

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Zhao cited civil lawsuits recently dismissed in U.S. courts that had accused Binance of acting as a conduit for terrorism financing in Iran.

He argued that the Iran-tied transactions in question generate no fees and would not offer any business attraction for Binance to get involved in.

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Binance settled U.S. anti-money-laundering and sanctions-violation accusations in 2023 and has sued the Wall Street Journal over reporting that it fired compliance personnel who flagged suspicious transactions that may have violated sanctions.

“Former Binance CEO CZ waves off accusations on Iran, terror ties The founder of the world's largest exchange distanced himself from reports about Binance activity that reports had recently suggested aided terrorism”

@coindesk

Internal investigators reportedly flagged more than $1 billion in crypto transfers from Chinese clients into wallets linked to Iranian financing networks.

Zhao said he has been targeted by false accusations and noted that he served a prison sentence and received a pardon from President Donald Trump; he added that he agreed to leave his company under a criminal settlement with the U.S.

Separately, U.S. Senator Cynthia Lummis, who runs the crypto subcommittee within the Senate Banking Committee, said the crypto market structure bill should advance from the committee by late April.

She said the talks have essentially worked out a compromise on stablecoin yield and she expects the bill to pass the Senate by the end of the year.

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