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Binance says UAE-questioned employees were cleared and released
The exchange said the matter involved third-party fund flows through a company client money account, as Dubai Police and other Emirates authorities coordinate on institutional client money procedures.
Binance said its employees who were questioned by authorities in the United Arab Emirates were cleared and released after providing statements regarding third-party fund flows via a company client money account, according to Cointelegraph.
The outlet reported that The New York Times earlier said two Binance employees were detained after being stopped at airports in the UAE amid police inquiries into possible financial crimes involving the exchange.
In a statement to Cointelegraph, a Binance spokesperson said cryptocurrency and the mechanics of institutional client money accounts are still emerging concepts in many jurisdictions and that Binance is working constructively with Dubai Police and other Emirates’ authorities to establish clear coordination procedures.
Cointelegraph also noted Binance has faced similar scrutiny before, including the 2024 detention in Nigeria of then head of financial crime compliance Tigran Gambaryan, with charges later dropped by October 2024.