Binance said on Aug. 20 that two employees detained in the United Arab Emirates had been cleared and released after answering questions about third-party fund flows through a client money account. The exchange called the matter a “routine inquiry” and said the employees were not targets of the authorities’ financial investigation.
The New York Times first reported the detentions, citing four people familiar with the matter. According to that report, authorities stopped the employees at airports in the Emirates during recent weeks. Binance later told Reuters that a small number of employees had provided statements during the inquiry.
The exact transactions under review remain unknown. UAE authorities have not publicly detailed suspected offenses, named subjects, or announced formal charges. Binance said the presence of third-party transfers through a client money account does not by itself establish unlawful activity.
Binance FZE retains an active Dubai license covering exchange, brokerage, lending, borrowing, management and investment services, according to the Virtual Assets Regulatory Authority’s public registry. The company received its current VASP license in April 2024, and the UAE remains a central part of Binance’s regulatory strategy.
Binance said it is cooperating with Dubai Police and authorities in other Emirates and is developing clearer coordination procedures for responding to similar inquiries. No deadline, court hearing, or enforcement proceeding has been announced.
