Binance cuts sanctions exposure by 97%, denies allegations

Binance cut sanctions-related exposure by 97% since 2024, with such transactions now at 0.009% of volume. The company denies firing employees over compliance concerns.

Binance has announced a substantial reduction in its exposure to sanctioned entities and high-risk jurisdictions, with a particular focus on Iran. This move is part of the company’s ongoing efforts to strengthen its compliance measures. Since January 2024, Binance reports that sanctions-related exposure as a share of total trading volume has dropped by approximately 97%, now accounting for just 0.009% of all activity. Direct transactions with four major Iranian platforms decreased significantly, falling from $4.19 million to $110,000 between January 2024 and January 2026. Binance asserts that its compliance procedures surpass industry standards and that it maintains close cooperation with regulatory authorities. The company has denied allegations that employees were dismissed for raising compliance concerns, clarifying that no terminations were related to sanctions compliance issues. Binance also highlighted its investment in compliance, employing over 1,500 staff in related roles, and argued that recent media coverage has not accurately reflected its compliance efforts.