According to the New York Times, UAE authorities temporarily detained two Binance employees at local airports.
Sources indicate officials in Abu Dhabi and Dubai are stepping up scrutiny over fund movements across the crypto giant’s institutional client accounts.
Airport stops
Journalist sources confirmed that police stopped two exchange representatives right before their flights out of the country.
In a statement, Binance clarified that a small group of staffers merely provided witness statements as part of a routine inquiry.
Authorities zeroed in on suspicious third-party fund flows moving through one of the platform’s client money accounts.
"Our employees were not targets of the probe and were cleared and released," Binance stressed in a statement.
The exchange added that institutional client money accounts remain a novel concept in many jurisdictions. Meanwhile, the platform continues to build clear coordination protocols with Dubai Police and authorities across other Emirates.
UAE regulatory backdrop
Binance secured its operational license in Dubai back in 2022. While the Emirate actively courts Web3 businesses, it has simultaneously tightened oversight around Anti-Money Laundering (AML) enforcement.
The exchange has faced heat from law enforcement in several jurisdictions over recent years.
The most high-profile clash hit in 2024, when Nigerian authorities charged Binance and its head of financial crime compliance, Tigran Gambaryan, with laundering over $35 million. Both Gambaryan and the exchange denied all charges.
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