Binance files defamation lawsuit against WSJ

Just after the world’s largest cryptocurrency exchange, Binance, announced its legal victory following the dismissal of its alleged terrorism case by a US judge, binance is back in court amid new accusations.

As the exchange continues to face backlash regarding its regulatory status, it has just filed a defamation lawsuit against The Wall Street Journal in the United States District Court for the Southern District of New York.

The lawsuit was filed directly against Dow Jones, publisher of the WSJ, on Wednesday, March 11, after the media outlet published a report questioning the integrity of Binance.

The report claimed that the US Department of Justice has begun investigating Iran’s use of Binance to evade sanctions. Considered false by the exchange, the report has caused tensions between Binance and The Wall Street Journal.

Binance and WSJ in legal battle

For information revealed According to American reporter Eleanor Terrett, Binance filed the lawsuit in response to an article published on February 23 by The Wall Street Journal.

The report alleges that the exchange may have facilitated transactions linked to Iranian entities. According to Binance, the report contains false and defamatory statements about its compliance practices.

In addition to the allegations, the report also cited concerns from researchers and lawmakers about whether the platform was used to circumvent international sanctions.

Binance demands damages and legal fees

In the lawsuit filed by Binance, the exchange argued that WSJ has continued to make numerous “false and defamatory” statements that have damaged its reputation.

Binance also stated that it had provided factual corrections to the publication before the story was published, but claims those corrections were ignored.

As part of the lawsuit, Binance demanded a jury trial and requested compensatory damages and legal fees. The amount remains undisclosed.