CoinEx denies claims it served as $3.84 billion gateway to sanctioned Iranian crypto firms
Blockchain analytics firm TRM Labs alleges that the crypto exchange CoinEx facilitated billions in transactions for sanctioned Iranian entities. CoinEx has denied these claims, stating they have no commercial relationships with Iranian government-linked parties.
Why it matters
Raises critical questions about regulatory compliance and the use of cryptocurrency to bypass international sanctions.
Blockchain intelligence firm TRM Labs said CoinEx served as a gateway for the crypto sector in Iran, having traced more than $3.84 billion in flows between the exchange and sanctioned Iranian entities in the last seven years.
Presents both the accuser's findings and the company's rebuttal in a balanced manner.
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