Crypto news reports that Binance has filed a lawsuit against The Wall Street Journal over a February report about alleged Iran-linked cryptocurrency transactions. The exchange says the article contained false and defamatory claims and misrepresented its internal compliance work.
Binance confirmed the legal action in an official blog post published on Wednesday. The post said the complaint targets a Feb. 23 Wall Street Journal article that alleged Binance dismantled an internal compliance investigation tied to more than $1 billion in cryptocurrency flows.
The Wall Street Journal report alleged that Binance investigators traced transactions through multiple entities. Those entities included a Hong Kong trading firm that the report said moved hundreds of millions of dollars in stablecoins connected to Iranian networks.
The report also claimed investigators were later suspended or dismissed after presenting their findings. Binance has disputed that account and said the reporting did not reflect what happened inside the company.
Crypto news coverage of the dispute...
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