There's a political firestorm brewing in Washington, and Binance is at the center of it. The crypto giant is being targeted for allegedly helping Russia bypass US sanctions. A new report has brought to light the company's covert relationship with the sanctioned nation.
🔥 Lawmakers and Experts Erupt in Fury
The news has sent shockwaves across Capitol Hill:
Crypto Analysts claim that Binance "deliberately" helped Moscow build a new financial system beyond American control.
Sanctions Experts have blasted Binance's behavior as "reckless," arguing that the exchange ignored compliance and security to provide a way for Russia to evade sanctions.
A Report's Findings: A private report revealed that a ruble-backed token called A7A5 has processed over $51.1 billion in transactions on the Binance platform. This suggests the token is being used by large businesses, not just individual users.
🕵️♂️ Binance's Sanctions Evasion Efforts
According to the reports, Binance wasn't just making small mistakes; it was actively trying to dodge sanctions:
Garantex's New Form: Garantex, which had already been sanctioned, reportedly relaunched as "Grinex" in 2024 to keep the system running.
The Old Vector Secret: The token's issuer, Old Vector, linked to the sanctioned Russian state bank Promsvyazbank, was recently hit with new US Treasury sanctions.
🌍 The Bigger Picture
Binance has commented that its operations are "very well-defined." However, critics argue that while Putin has walked away smiling, Binance is quietly building a sanctions-proof crypto economy.
#BinanceWatch #CryptoScandal #SanctionsBypass
