🇺🇸 LATEST: The US Treasury is advancing the GENIUS Act with a proposed rule requiring stablecoin issuers to implement AML and sanctions compliance and enable blocking or freezing of certain transactions targeting illicit finance. https://t.co/NorUzO4YjF ...

RT Eleanor Hughes (@eleanorshughes1)On the back of the SDNY's dismissal of anti-terrorism claims brought against #Binance, we have secured our second court victory from a U.S. federal court in Alabama with a detailed 19-page ruling.This is a significant legal moment for Binance as these rulings demonstrate that the courts have found the claims deficient both legally and factually. They underscore that allegations related to sanctions compliance and terrorism financing are grave matters that require substant ...

Binance does not operate in the USAWhy anytime there is a "money" issue is it always Binance?Not the banks, the US banks have facilitated transactions for many thingsIs this an extended war on crypto in the USA, funded by the banks?CoinDesk (@CoinDesk):JUST IN: Binance has issued a formal response to Senator Richard Blumenthal over concerns about the exchange’s sanctions compliance.The company says allegations that it allowed sanctioned Iranian users to bypass controls are false and based on misunderstandin ...

Binance published a formal response to a Feb. 24 inquiry from U.S. Senator Richard Blumenthal, stating that recent media reports alleging sanctions compliance failures are “false” and based on misunderstandings. The exchange said it maintains strict KYC and sanctions controls, prohibits users in Iran, and has offboarded entities flagged during law-enforcement investigations while continuing to cooperate with authorities. https://t.co/NACMB1NvFP ...

JUST IN: Binance has issued a formal response to Senator Richard Blumenthal over concerns about the exchange’s sanctions compliance.The company says allegations that it allowed sanctioned Iranian users to bypass controls are false and based on misunderstandings, adding that it enforces strict KYC rules and cooperates with law enforcement. ...

#Binance operates a best-in-class sanctions compliance program that continues to grow stronger.Our process is rigorous.When there is credible risk information, we:Investigate →Mitigate → Offboard where appropriate → Report to authorities.That is our standard. Every time. ...

Core Viewpoint - Binance and its executives are facing a lawsuit from victims of the October 7, 2023, Hamas attack, alleging that the exchange facilitated payments to terrorist groups, contributing to the attack [1]. Group 1: Lawsuit Details - The lawsuit, filed in North Dakota, claims Binance processed over $1 billion for Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran's Revolutionary Guard Corps, including approximately $50 million after October 7 [2]. - Plaintiffs argue that Binance's inadequate controls allowed terrorist organizations to move funds through its platform, directly contributing to the attacks [2]. Group 2: Previous Legal Issues - This lawsuit follows a previous settlement where Binance and its CEO pleaded guilty to violating sanctions and money-transmitting laws, resulting in a $4.3 billion settlement with the U.S. Department of Justice and Treasury [3]. - As part of the settlement, Binance admitted to failing to report transactions involving Hamas and other sanctioned entities, indicating ongoing issues with anti-money-laundering and sanctions controls [3]. Group 3: Industry Response and Analysis - Blockchain analytics firms, such as Chainalysis and Elliptic, caution that the amounts attributed to Hamas may be overstated, with confirmed fundraising in the low millions, and that lawsuits often conflate intermediary activity with funds controlled by militant groups [4]. - An investigation by ICIJ suggests that Binance has not fully implemented required compliance reforms post-settlement, which may impact the ongoing litigation [5].