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Binance Vows Zero Tolerance for Sanctions Violations Amid DOJ Probe

Guavy AI Editorial Team
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Binance Co-CEO Richard Teng reiterated the exchange's stance on sanctions violations following a recent U.S. Justice Department investigation.

The DOJ sought forfeiture of approximately $61 million in cryptocurrency, which prosecutors alleged was tied to proceeds from black-market sales of sanctioned Iranian oil and petroleum products.

Teng stated that Binance has 'zero tolerance' for sanctions violations and will investigate, restrict or freeze accounts where illicit-finance risk is identified.

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