The world’s largest crypto alternate has issued a proper response to a letter from US Senator Richard Blumenthal, strongly rejecting claims that its compliance techniques are weak or that it enabled any form of illicit monetary exercise.
Binance indicated that the media experiences cited within the Senate inquiry comprise “false, unsupported, and defamatory claims” about its sanctions controls and AML procedures.
Binance Responds
The assertion emphasised that Binance operates a sturdy compliance program supported by greater than 1,500 specialists worldwide and superior monitoring instruments designed to detect suspicious exercise. As well as, the corporate mentioned it had been extremely cooperative with legislation enforcement, including that it processed over 71,000 such requests in 2025 alone.
It defined that its staff helped authorities seize greater than $750 million in illicit belongings, together with virtually $580 million for US businesses. Binance additionally claimed that its publicity to wallets linked to some form of criminal activity has declined by almost 97% since early 2024, which features a 97.3% drop in publicity to main Iranian crypto buying and selling platforms.
Hexa Whale and Blessed Belief, two of the entities named within the inquiry, have been proactively investigated and faraway from the platform following inner critiques triggered by legislation enforcement requests. It added that no Binance account carried out direct transactions with Iran-based entities. It additionally rejected allegations about inner whistleblowers by explaining that worker departures have been a part of regular turnover.
Nonetheless, the corporate additionally mentioned it “acknowledges that absolute zero danger is unimaginable on public blockchains however depends on strong monitoring and controls to reduce and mitigate dangers.”
The Inquiry
11 Democratic senators, led by Richard Blumenthal, urged the DOJ and Treasury in a letter despatched in late February to analyze Binance over alleged Iran sanction violations in 2026. The inquiry cited findings uncovered by the alternate’s personal compliance personnel final yr, by which they found that $1.7 billion in digital belongings had flowed to Iranian-linked entities.
Among the names recognized within the letter included Iran-backed Houthis and the Islamic Revolutionary Guard Corps. It additionally claims {that a} Binance vendor allegedly directed $1.2 billion in a single occasion to Iran-linked accounts.
“We urge you to conduct a immediate, complete overview of sanctions compliance on the platform to make sure that it’s not as soon as once more violating the legislation and threatening U.S. nationwide safety,” wrote the Senators.
They added that Iranians had reportedly accessed greater than 1,500 accounts on Binance, and additional alleged that the alternate could have been used to assist Russia evade US sanctions.
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