#Sanctions

Binance CEO Richard Teng strongly denied a Wall Street Journal report alleging $850 million in transactions linked to sanctioned Iranian financiers, framing the article as fundamentally inaccurate and part of an ongoing legal dispute over compliance data interpretation.

OFAC's jurisdiction extends robustly into the crypto space, requiring all virtual currency providers that interact with the U.S. to implement advanced, real-time sanctions screening to prevent the financing of illicit activities.