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Binance files lawsuit against Wall Street Journal following report of U.S. Department of Justice probing transactions linked to Iran.
This development intensifies scrutiny on Binance, which is already functioning under a compliance monitor due to its $4.3 billion settlement regarding anti-money laundering and sanctions in 2023.
(Danny Nelson/CoinDesk)
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- The U.S. Justice Department is looking into the alleged use of Binance by Iranian entities to circumvent U.S. sanctions, with more than $1 billion in cryptocurrency transactions being examined.
- Binance has initiated a defamation lawsuit against the Wall Street Journal regarding a previous article on the same matter.
Binance announced that it has filed a defamation suit against Dow Jones, the publisher of The Wall Street Journal, on the same day the newspaper released a report claiming that the U.S. Justice Department is investigating whether Iran utilized the leading cryptocurrency exchange to transfer funds in breach of U.S. sanctions.
In the lawsuit submitted to the U.S. District Court for the Southern District of New York, the firm stated that the newspaper issued “false and defamatory remarks” concerning its compliance measures and management of transactions linked to Iran in an article published on February 23.
In a story released on Wednesday, the Journal reported that DOJ officials reached out to individuals with knowledge of the transactions as they collected evidence related to cryptocurrencies that flowed through the exchange. It referenced individuals familiar with the situation.
