Binance Faces Questions Over Iranian Oil Proceeds Amid UK AML Crackdown

Binance, one of the world's largest cryptocurrency exchanges, has revealed that it handled oil proceeds from Iran, despite US sanctions on the country.

The news comes as Britain launches a new anti-money laundering (AML) strategy to combat financial crime. The UK's National Crime Agency (NCA) estimates that £100 billion is laundered through British banks each year.

Binance's handling of Iranian oil proceeds raises questions about its compliance with US sanctions, which prohibit transactions involving the country's energy sector. Binance has stated that it complies with all applicable laws and regulations, but the exact nature of its involvement remains unclear.