The world’s largest crypto trade has issued a proper response to a letter from US Senator Richard Blumenthal, strongly rejecting claims that its compliance methods are weak or that it enabled any type of illicit monetary exercise.
Binance indicated that the media stories cited within the Senate inquiry include “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 stated it had been extremely cooperative with legislation enforcement, including that it processed over 71,000 such requests in 2025 alone.
It defined that its group helped authorities seize greater than $750 million in illicit property, together with virtually $580 million for US businesses. Binance additionally claimed that its publicity to wallets linked to some type 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, had been proactively investigated and faraway from the platform following inside evaluations triggered by legislation enforcement requests. It added that no Binance account carried out direct transactions with Iran-based entities. It additionally rejected allegations about inside whistleblowers by explaining that worker departures had been a part of regular turnover.
Nonetheless, the corporate additionally stated it “acknowledges that absolute zero danger is inconceivable on public blockchains however depends on strong monitoring and controls to attenuate 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 trade’s personal compliance personnel final yr, by which they found that $1.7 billion in digital property had flowed to Iranian-linked entities.
A number of 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 assessment 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 trade could have been used to assist Russia evade US sanctions.
The put up Binance Formally Rejects US Senate Claims of Iran Sanctions Violations appeared first on CryptoPotato.