Binance Responds to U.S. Senator's Inquiry, Stating Related Media Reports Are Inaccurate and Defamatory

Odaily News Binance issued a statement responding to an inquiry letter from U.S. Senator Richard Blumenthal dated February 24, 2026, regarding anti-money laundering issues. The inquiry was partly based on "inaccurate, unsubstantiated, and defamatory" allegations from recent media reports. Binance emphasized that the company maintains a strict and continuously enhanced compliance and sanctions control system. Binance stated that it has established rigorous KYC and compliance procedures and explicitly prohibits users located in or residing in Iran from using the platform. Regarding the two entities, Hexa Whale and Blessed Trust, mentioned in the letter, Binance indicated that it initiated internal investigations after cooperating with law enforcement agencies. The relevant entities were removed from the platform in August 2025 and January 2026, respectively. To its knowledge, no Binance accounts have directly transacted with Iranian entities. In recent years, Binance has invested hundreds of millions of dollars in building compliance infrastructure, and its global compliance team now exceeds 1,500 people. Throughout 2025, Binance processed over 71,000 law enforcement requests and assisted in freezing or recovering more than $752 million in funds over the past three years, with approximately $579 million stemming from cases involving U.S. government agencies.

Furthermore, Binance cited blockchain analysis data, stating that from January 2024 to July 2025, the proportion of wallet transactions on its platform associated with suspected illicit activities decreased from 0.284% to 0.009%, a reduction of nearly 97%. Its exposure to Iran-related crypto exchanges also fell by 97.3% over two years. Binance stated that upon identifying credible risk information, the company conducts investigations, implements risk mitigation measures, closes relevant accounts, and reports to law enforcement agencies. It will continue to strengthen its compliance system development and law enforcement cooperation.