Binance CEO Richard Teng Responds to WSJ Report: Binance Did Not Allow Sanctioned Individuals to Trade

Odaily Odaily reports that Binance CEO Richard Teng posted a response on platform X regarding the relevant report by The Wall Street Journal, stating that the report still contains "fundamental errors" regarding the facts and Binance's commitment to its compliance framework.

Richard Teng stated that the transactions mentioned by the Wall Street Journal all occurred before the relevant individuals were sanctioned, and Binance did not allow any sanctioned individuals to trade on the platform.

He also said that Binance had proactively investigated the relevant issues before being contacted by The Wall Street Journal and had provided the relevant facts to them, but this content was not published.

Furthermore, Richard Teng emphasized that Binance has "zero tolerance" for illegal activities, has established an industry-leading compliance system, and will continue to cooperate with U.S. and global law enforcement agencies to combat financial crime in the future.

Previous news: WSJ: Over $850 Million in Funds Linked to the Iranian Regime Moved Through Binance in the Past Two Years.