Is Binance still trading in Iran?

LONDON, July 11 (Reuters) - The world's largest crypto exchange, Binance, continued to process trades by clients in Iran despite U.S. sanctions and a company ban on doing business there, a Reuters investigation has found.

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.

Which nobitex Exchange handles the most Iranian Transactions?

The total volume of Iranian transactions flowing through Binance is far greater than through any other exchange, the data show. After Binance, the next most popular exchange for Nobitex users since 2018 was Seychelles-based KuCoin, which processed $820 million in direct and indirect transactions.