How much money has Binance processed in Iran?

LONDON, Nov 4 (Reuters) - Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show.

How much Crypto has moved between Iranian exchanges and Binance?

The data reviewed by Reuters show that in total some $2.95 billion in crypto moved directly between Iranian exchanges and Binance since 2018. A further $5 billion in crypto moved between Iranian exchanges and Binance through layers of intermediaries, the data also reveal.

Why is Binance a threat to Iran?

This is because the traders in Iran used Binance's main exchange, which is not a U.S. company. But Binance does run a risk of so-called secondary sanctions, which aim to prevent foreign firms from doing business with sanctioned entities or helping Iranians evade the U.S. trade embargo.

Could Iran trade on a 'Binance' exchange draw interest from US regulators?

The Iranian trading on the exchange could draw interest from U.S. regulators, seven lawyers and sanctions experts told Reuters. Binance, whose holding company is based in the Cayman Islands, says it does not have a single headquarters.