Binance has officially denied the US Senate’s claim that it violated Iran sanctions

The response comes after Senator Blumenthal’s letter raised concerns about Binance’s AML controls and cited reports from media outlets such as the New York Times, Fortune and WSJ.

The world’s largest cryptocurrency exchange has issued an official response to a letter from US Senator Richard Blumenthal, denying allegations that its compliance systems are weak or enable any illegal financial activity.

Binance found that media reports cited in the Senate investigation made “false, unsupported and defamatory claims” about its sanctions oversight and AML procedures.

Binance responds

The statement emphasized that Binance operates a robust compliance program supported by more than 1,500 professionals worldwide and advanced monitoring tools designed to detect suspicious activity. In addition, the company said it has been cooperating extensively with law enforcement agencies, adding that it processed more than 71,000 such requests in 2025 alone.

It explained that its team helped authorities seize more than $750 million in illegal assets, including about $580 million for US institutions. Binance also claimed that its exposure to wallets associated with some type of illegal activity has decreased by approximately 97% since the beginning of 2024, which includes a 97.3% reduction in exposure to major Iranian crypto trading platforms.

Hexa Whale and Blessed Trust, two entities named in the survey, were actively investigated and removed from the platform following internal reviews prompted by law enforcement requests. It added that no Binance account has conducted direct transactions with institutions based in Iran. It also denied allegations of internal whistleblowers, explaining that staff departures were part of normal turnover.

However, the company also said it “recognizes that absolute zero risk is impossible on public blockchains, but relies on strong monitoring and controls to minimize and mitigate risks.”

Question

11 Democratic senators, led by Richard Blumenthal, called on the US Attorney General and the Treasury to investigate Binance in late February 2026 over alleged violations of Iran sanctions in 2026. This inquiry is based on the findings of the exchange’s compliance officers last year, in which 17 billion dollars entered Iran. subjects.

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Some of the names mentioned in the letter were the Iran-backed Houthis and the Islamic Revolutionary Guard Corps. It also alleges that a Binance vendor allegedly diverted $1.2 billion to accounts linked to Iran in one instance.

“We urge you to promptly and thoroughly review the platform’s compliance with sanctions to ensure that it does not again violate the law and threaten US national security,” the senators wrote.

They added that Iranians reportedly gained access to more than 1,500 accounts on Binance, and later claimed that the exchange may have been used to help Russia evade US sanctions.