UAE detentions revive questions over Binance bank accounts

UAE police detained Binance employees at airports this summer, and one was held overnight in a Sharjah police station, according to Protos. The report says police found the employees’ names on a corporate bank account Binance used to process customer deposits and withdrawals. Binance Dubai launched direct AED deposits and withdrawals on June 2, 2026. The exchange’s support documents show deposits moving by ADCB bank transfer into Binance FZE through virtual IBANs. Binance said the employees were “promptly cleared and released” after “inquiries relating to third-party fund flows.” The company said other issues were the subject of “routine” questions and that the employees were “never the targets or subjects of these inquiries.” Protos compared the episode with a 2023 case in which Reuters reported that Guangying “Heina” Chen controlled five Silvergate accounts for Binance.US in prior years. Reuters said Binance.US asked Chen’s team to process payments and cover some payroll disbursements. Binance.US said it ran its own accounts, but the SEC disagreed. Binance holds a full Virtual Asset Service Provider licence from Dubai’s VARA, issued in April 2024. In December, the Abu Dhabi Global Market’s Financial Services Regulatory Authority also granted Binance.com full authorization in the emirate, effective January 5, 2026. Protos also noted that in early 2025, Abu Dhabi state-backed MGX invested $2 billion into Binance via USD1, a stablecoin issued by Donald Trump family’s World Liberty Financial. A few months later, Trump pardoned CZ in October 2025.