Binance Compliance Officer: KYC Cost Exchange ‘Billions in Revenue’

Binance Compliance Officer: KYC Cost Exchange ‘Billions in Revenue’


Chagri Poyraz: From a sanctions point of view, Iranian citizens living outside Iran is not even an issue for OFAC [Office of Foreign Assets Control, the U.S. agency that enforces sanctions]. … If it’s North Korea or Syria, those are U.N. sanctions. They are applicable anywhere that U.N. sanctions are recognized. But if it’s U.S. sanctions, which is Iran and Cuba, it’s only applicable according to U.S. legislation and enforcement. And by the way, they will never go after Iranian citizens living abroad. It is illegal to do that.

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