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Binance fired employees who found $1.7B in crypto was sent to Iran

nytimes.com

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Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#251

Post by guywithahat »

wat10000 wrote: post #127
guywithahat wrote: post #71

Earlier quoted context omitted.

It can also mean it's political. Famously (whether you think he's guilty or not) John Kiriakou pled guilty because he knew John Brennan was going to throw the entire might of the justice system at him. When he talks about the experience, his decisions are made with consideration to the fact the president's inner circle wanted him in jail and he wasn't fighting a fair battle.

I'm not sure how that's relevant, since John Kiriakou does not appear to be particularly wealthy.

I'm talking about political prosecutions, not extremely wealthy people.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#252

Post by wat10000 »

guywithahat wrote: post #251
wat10000 wrote: post #127

Earlier quoted context omitted.

I'm not sure how that's relevant, since John Kiriakou does not appear to be particularly wealthy.

I'm talking about political prosecutions, not extremely wealthy people.

I understand that, but I'm talking about the intersection of both. When an extremely wealthy person is subjected to a "political prosecution," that usually means they're guilty as hell, it's a serious crime, and it's just one that other extremely wealthy people got away with.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#253

Post by disgruntledphd2 »

embedding-shape wrote: post #243
disgruntledphd2 wrote: post #239

Earlier quoted context omitted.

> So going back to the original question, "Is Iran supposed supposed to be banned on Binance?" still doesn't have a clear answer? I mean, theoretically not, but practically yes. Basically every bank has dollar reserves and as such get caught up in the sanctions screening process. Again, sanctions are most problematic for entities when used by the US, but the EU and other governments also do this, and if you want to t…

Ok, but isn't that then up to Binance to decide themselves, if to allow that to happen or not? Lots of people here seem to assume because US embargoes say this or that, means Binance should obviously make one particular choice, but shouldn't that be up to Binance and/or whatever jurisdiction they're in, in actuality?

It's totally up to binance, but being absolutely unable to transact in dollars is a pretty harsh penalty. Normally prison sentences are involved for whoever the head of the US entity is.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#254

Post by disgruntledphd2 »

embedding-shape wrote: post #242
disgruntledphd2 wrote: post #238

Earlier quoted context omitted.

> It does matter, for non-Americans, that America isn't the world police and doesn't dictate laws, norms and how other countries behave. Maybe it used to be relatively fringe to have this point of view, but last few years really vindicated this point of view, and I agree that many countries in the world should continue focusing on decoupling themselves from the US, this particular issue highlights one motivation for…

> Like, how would you even spin this as a good change? I'm not American, why would I want American laws to apply to me? How could you possibly spin that as a negative change? > but that doesn't change the fact that these laws exist basically everywhere So you're saying that there is a Maltese law (or whatever jurisdiction Binance actually is right now) that is saying Maltese companies cannot do business dealings with…

There are AML and sanction laws everywhere, yes. However the US sanctions are mostly enforced by not letting the offending banks transact in dollars, which are basically controlled by the US government. Because the US dollar is the world reserve currency, this normally causes banks to comply with this legislation and sanction lists.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#255

Post by dpc050505 »

mikkupikku wrote: post #136
VirusNewbie wrote: post #102

Earlier quoted context omitted.

I mean, I can meet you in an ally, transfer some satoshis from my wallet to yours, you hand me a wad of cash/jewels/MtG/collector funkos and you might not even know my name.

Sounds like a setup to get robbed tbqh.

My days of contraband in college taught me that the perspective of repeat business kept things quite amicable.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#256

Post by embedding-shape »

disgruntledphd2 wrote: post #254
embedding-shape wrote: post #242

Earlier quoted context omitted.

> Like, how would you even spin this as a good change? I'm not American, why would I want American laws to apply to me? How could you possibly spin that as a negative change? > but that doesn't change the fact that these laws exist basically everywhere So you're saying that there is a Maltese law (or whatever jurisdiction Binance actually is right now) that is saying Maltese companies cannot do business dealings with…

There are AML and sanction laws everywhere, yes. However the US sanctions are mostly enforced by not letting the offending banks transact in dollars, which are basically controlled by the US government. Because the US dollar is the world reserve currency, this normally causes banks to comply with this legislation and sanction lists.

Yes yes, we understand you, if you want to participate in the USD, you follow US embargoes, you have repeated this without actually answering any questions like 5+ times in this submission now, I think most of us understand the point you're trying to make when you keep repeating it.

They don't exists in every country, the question then becomes do they exist wherever Binance is actually headquartered?

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#257

Post by yesco »

bulbar wrote: post #249
lacoolj wrote: post #94

Contrary to a lot of comments here, the only way to use bitcoin (or any cryptocurrency) without tracking is to mine it yourself, and even then... Where did you get it? Purchased/transferred? Where did they get it? What else did the person with that wallet do? If the answer is "mined", even then, you have to actually do something with it, right? Buy something? Where is that something shipped? At worst you'll have to p…

> Where did you get it? Purchased/transferred? Where did they get it? NFTs solved that problem by providing plausible cause of "I got the money from selling this money image for 100,000 USD"

Ah, I finally understand NFTs now

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#258

Post by dpc050505 »

crazygringo wrote: post #250
jazzyjackson wrote: post #178

Earlier quoted context omitted.

Yes, mostly they are distributed via pallets out the back of C130s (Definitely in Iraq and Afghanistan, I don't know if there's any back channel deals at the moment paying off Iranians in 100$ bills but I wouldn't be surprised if we were nudging for regime change by funding revolutionaries)

Yeah, I'm pretty sure that's limited exclusively to countries the US is currently invading...

That cash keeps circulating among global black markets after any given invasion.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#259

Post by crazygringo »

dpc050505 wrote: post #258
crazygringo wrote: post #250

Earlier quoted context omitted.

Yeah, I'm pretty sure that's limited exclusively to countries the US is currently invading...

That cash keeps circulating among global black markets after any given invasion.

Which has nothing whatsoever to do with sending money from Chicago to Iran.

The topic here is sending money across sanctioned borders, not local circulation.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#260

Post by alistairSH »

collingreen wrote: post #208
alistairSH wrote: post #179

Earlier quoted context omitted.

Not sure what that has to do with the Qatari bribe.

It's another example of a way to bribe politicians. What's the issue?

I thought he was trying to say the Qatari bribe wasn't a bribe because Boeing will have to service the jet or something like that. If it was a completely separate case of bribery, it makes sense - although it strikes me quite a bit different than a payment directly to the politician (vs a promise to the constituents of the district).
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