Binance has formally responded to US Senator Richard Blumenthal (D-CT) following a congressional letter wherein the lawmaker cited media reviews alleging the corporate enabled large-scale violations of US and worldwide sanctions involving Iran.
In an open letter printed Friday, Binance rejected the claims and accused the senator of counting on what it described as false and defamatory reporting.
Binance Denies Enabling Iranian Cash Laundering
Senator Blumenthal’s inquiry referenced articles printed in February 2026 by The New York Instances, Fortune, and The Wall Avenue Journal.
These reviews, based on the senator, advised Binance had disregarded warnings designed to forestall Iranian cash laundering schemes and had allowed roughly $1.7 billion in transfers linked to Iran.
In its response, Binance mentioned it takes its authorized and regulatory obligations severely and shares the senator’s said curiosity in sustaining a protected buying and selling platform. Nonetheless, the corporate disputed the accuracy of the reviews cited within the letter, calling them demonstrably false and defamatory in a number of important respects.
Binance emphasised that it maintains strict Know Your Buyer (KYC) and compliance procedures and expressly prohibits customers residing in or positioned in Iran from accessing its platform.
The alternate additionally responded to claims, repeated within the senator’s letter and attributed to The Wall Avenue Journal, that Binance compliance had recognized 2,000 accounts related to Iranian entities regardless of its said ban on Iranian customers.
Binance flatly denied making any such dedication. The corporate mentioned it enforces obligatory identification verification for all prospects and doesn’t knowingly onboard customers with incomplete or inaccurate documentation.
It advised the declare might stem from its ongoing efforts to strengthen controls associated to the usage of digital personal networks (VPNs). The agency reiterated that any try to avoid eligibility necessities via VPN utilization violates its phrases of service.
Worker Departures Not Linked To Iran Probe
Along with compliance issues, the senator’s letter referenced media reviews concerning the therapy of sure staff concerned within the Hexa Whale and Blessed Belief investigations.
Binance mentioned these reviews contained important inaccuracies and rejected options that staff have been dismissed for escalating compliance issues.
Whereas declining to reveal particular personnel particulars because of privateness concerns, the corporate acknowledged that some compliance employees and contractors have not too long ago departed, most via voluntary resignations.
Binance reiterated that its compliance framework is constantly evolving and strengthening. The corporate mentioned that when credible danger info arises, it investigates completely, removes accounts when needed, and reviews to applicable authorities.
With respect to the issues raised in Blumenthal’s letter, Binance argued that its compliance methods functioned as supposed. The alternate pledged to proceed cooperating with legislation enforcement and advancing what it described as its broader mission of constructing core infrastructure for the worldwide crypto ecosystem.
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