In spite of the sanctions regime imposed by the US authorities on Iran, some cryptocurrency exchanges continue to serve local traders.
In the summer, the New York Times reported Washington suspects Kraken of continuing to process transactions involving users from the Islamic Republic.
According to Chainalysis, another exchange, Binance, is also operating in the Iranian market despite US sanctions.
The company analysts have found that since 2018, the trading platform has processed transactions worth about $8 billion. All of these transactions featured users from the Islamic Republic.
Binance has interacted with the Iranian crypto exchange Nobitex, which ranks first in terms of trading volume in the country.
