Binance has formally responded to US Senator Richard Blumenthal (D-CT) following a congressional letter through which the lawmaker cited media experiences alleging the corporate enabled large-scale violations of US and worldwide sanctions involving Iran.
In an open letter revealed 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 revealed in February 2026 by The New York Instances, Fortune, and The Wall Road Journal.
These experiences, in accordance with the senator, recommended Binance had disregarded warnings designed to forestall Iranian cash laundering schemes and had allowed roughly $1.7 billion in transfers related to Iran.
In its response, Binance stated it takes its authorized and regulatory tasks critically and shares the senator’s acknowledged curiosity in sustaining a protected buying and selling platform. Nonetheless, the corporate disputed the accuracy of the experiences 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 situated in Iran from accessing its platform.
The alternate additionally responded to claims, repeated within the senator’s letter and attributed to The Wall Road Journal, that Binance compliance had recognized 2,000 accounts related to Iranian entities regardless of its acknowledged ban on Iranian customers.
Binance flatly denied making any such willpower. The corporate stated it enforces necessary identification verification for all clients and doesn’t knowingly onboard customers with incomplete or inaccurate documentation.
It recommended the declare could stem from its ongoing efforts to strengthen controls associated to using digital non-public 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 experiences concerning the remedy of sure workers concerned within the Hexa Whale and Blessed Belief investigations.
Binance stated these experiences contained important inaccuracies and rejected recommendations that workers have been dismissed for escalating compliance issues.
Whereas declining to reveal particular personnel particulars as a consequence of privateness concerns, the corporate acknowledged that some compliance workers and contractors have lately departed, most via voluntary resignations.
Binance reiterated that its compliance framework is repeatedly evolving and strengthening. The corporate stated that when credible danger data arises, it investigates completely, removes accounts when needed, and experiences to applicable authorities.
With respect to the issues raised in Blumenthal’s letter, Binance argued that its compliance programs functioned as meant. The alternate pledged to proceed cooperating with regulation enforcement and advancing what it described as its broader mission of constructing core infrastructure for the worldwide crypto ecosystem.
Featured picture from OpenArt, chart from TradingView.com
Editorial Course of for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent overview by our staff of prime know-how consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
