Two Binance employees were detained in the United Arab Emirates in recent weeks as authorities examined possible financial crimes linked to activity on the cryptocurrency platform, according to a report by the New York Times.
The employees were reportedly stopped at airports in the UAE. Binance said they were asked to provide statements as part of routine inquiries into third-party fund flows through a client money account.
The cryptocurrency exchange emphasized that the employees were not targets of the investigation and had since been cleared and released.
Binance said it is cooperating with Dubai Police and authorities across the Emirates as regulators continue to develop clearer procedures for cryptocurrency businesses and institutional client accounts.
The incident comes amid broader regulatory scrutiny of Binance in several countries. The exchange has faced investigations and legal challenges in recent years as governments increase oversight of cryptocurrency transactions, anti-money-laundering controls and customer funds.
Binance has operated in Dubai under a virtual asset licence since 2022, making the UAE an important market for the company’s regional expansion.
