Binance managers about Iran sanctions: The activity of Iranians living abroad is not prohibited

CoinDesk website recently an interview He had a discussion with two of Binance’s senior managers about the exchange’s dealings with Iranian users. During this conversation, Chagri Poyraz, an expert in the field of sanctions and the manager of Binance’s sanctions compliance department, told CoinDesk that this exchange currently provides services to Iranians living abroad, and this is against the government’s sanctions laws. America is not.

According to Erzdigital, Poyraz says:

From the point of view of sanctions, providing services to Iranians living abroad is not a problem, even from the point of view of the US Foreign Investment Control Office (the agency responsible for the implementation of US sanctions). North Korea and Syria are subject to UN sanctions, and the regulations related to sanctions against the citizens of these two countries are applicable wherever the UN sanctions laws are recognized. But the discussion we are having now is about US sanctions, which include Iran and Cuba, and can only be implemented if the regulations of the US government are followed. Therefore, they (legislators) will never pursue the activities of Iranians residing outside of this country; Because doing such a thing is illegal.

In his speech, Poyraz has pointed out that it is not mandatory for non-American companies to comply with the US sanctions against Iran. In fact, it should be said whether a company is required to comply with US sanctions against Iran or not, depends on the nationality of that group and its relationship with the United States. For example, the US government and the European Union each have their own regulations in dealing with Iran, Iranian companies and citizens of this country.

Tigran Gambaryan, one of the managers of the compliance department of the Binance exchange, also said in this regard:

In European countries, it is illegal for companies to comply with US sanctions against Iran.

Poyraz further added:

The reason why Binance hires people like me and Tigran is the complexity of issues related to sanctions. We have actually enabled an Iranian refugee living in the UK to open an account on Binance. There was no such possibility before and of course it was a mistake; But by improving its control systems, Binance can now distinguish between a resident and a citizen of a sanctioned country.

Gambarian also says:

Following American sanctions is illegal in Europe, and this issue once again raises the complicated issue that we (Binance) are not an American entity. Binance has a very conservative approach that puts us at risk in non-US jurisdictions; But we still comply with US sanctions. Complying with these regulations would technically put us in a position to break the law in jurisdictions outside of the US and, I believe, violate EU regulations.

Poyraz said in the end:

Just to expand on the matter, please ask any bank you want whether they will open an account for an Iranian living in a foreign country or the US itself. Their answer will definitely be positive. Regarding the Iranians living in Iran itself, all the necessary work [برای پیشگیری از فعالیت آنها] We will do it. Yes, things can always slip out of our hands; But if there is a gap we will find it and improve our controls.

Also read: US order to digital currency companies to prevent circumvention of sanctions; Is there any danger threatening the capital of Iranians?