Binance employees detained in the United Arab Emirates were cleared and released after providing statements about third-party fund flows through a company client money account, a spokesperson for the exchange told Cointelegraph.
The New York Times reported Thursday that two Binance employees were detained after being stopped at airports in the UAE amid police inquiries into possible financial crimes involving the exchange.
The employees were not the targets or subjects of what Binance described as “routine inquiries.”
“Cryptocurrency and the mechanics of institutional client money accounts remain emerging concepts in many jurisdictions; we are working constructively with Dubai Police and authorities across other Emirates to establish clear, appropriate coordination procedures,” the spokesperson said.
In 2024, Nigerian authorities detained Tigran Gambaryan, then Binances head of financial crime compliance, for eight months while he faced money laundering charges.
By October 2024, the Nigerian government had dopped all charges against Gambaryan.
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