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

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

Richard Teng stated that the transactions mentioned in the Wall Street Journal report 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 launched an investigation into the relevant issues before being contacted by The Wall Street Journal and had provided the relevant facts to the outlet, but this information was not published.

Furthermore, Richard Teng emphasized that Binance has "zero tolerance" for illegal activities and has established an industry-leading compliance system. The company will continue to cooperate with US and global law enforcement agencies to combat financial crimes.

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