![\"Binance](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMTIvMDE5YjE2ZTQtNTEwMy03ZmQ5LThjZGQtZjVhNWFlMDFiYzhhLmpwZw==.jpg\")
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The crypto exchange responded to a Senate inquiry over sanctions by claiming that \u201cno Binance account transacted directly with an Iran-based entity.\u201c<\/p>\n
Cryptocurrency exchange Binance has officially responded to a February inquiry launched by a group of 11 US senators, largely denying facilitating transactions to Iranian entities and the narrative around employees\u2019 terminations.<\/p>\n
In a Friday letter to US Senators Richard Blumenthal and Ron Johnson of the Permanent Subcommittee on Investigations, Binance said<\/a> that an inquiry launched in February into the exchange\u2019s activities was based on reports that were \u201cdemonstrably false, unsupported by credible evidence, and defamatory in several material respects.\u201d\u00a0<\/p>\n The exchange referred to reporting from the Wall Street Journal, New York Times and Fortune, which said<\/a> that Binance fired employees that reported<\/a> the company had facilitated<\/a> more than $1 billion in crypto transactions to entities connected to Iran, called Hexa Whale and Blessed Trust. According to Binance, the company launched an investigation in response to law enforcement inquiries, resulting in the removal of the entities from the platform.\u00a0<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n