Binance, the world’s largest cryptocurrency exchange, is planning a return to the UK market years after being pushed out by regulators. The exchange is simultaneously facing allegations that it facilitated approximately 8 billion dollars in Iran-related transfers since 2018. The Financial Conduct Authority revoked Binance’s authorization in June 2021. Binance has denied any wrongdoing. The exchange nonetheless agreed to a 4.3 billion dollar settlement with US authorities in late 2023, including sanctions violation charges, which resulted in founder Changpeng Zhao serving a four-month prison sentence.
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