Binance Responds to Allegations of Iran Sanctions Violations: Emphasizes Compliance and Law Enforcement Collaboration

Binance has issued a formal response to allegations that its platform was used to circumvent Iranian sanctions, explicitly denying the claims. The company emphasized that all users are required to complete identity verification, and users within Iran are explicitly prohibited from using its services. To ensure compliance, Binance has invested tens of millions of dollars in recent years to build a risk control system, and its global compliance team has expanded to more than 1,500 people, with a significant number focused on sanctions screening, financial crime investigations, and counter-terrorism financing monitoring.

In response to U.S. Senator Blumenthal's citation of allegations published in The Wall Street Journal, Binance stated that it has proactively responded and pointed out that the claims seriously distort its daily compliance efforts and substantive progress. Data shows that in 2025 alone, Binance processed more than 71,000 requests for data from law enforcement agencies. Over the past three years, it has assisted global law enforcement agencies in freezing or recovering more than $752 million in assets.

The two trading entities mentioned in the investigation, “Hexa Whale” and “Blessed Trust,” were alleged to have indirect connections with Iranian addresses. Binance stated that after receiving a tip from law enforcement in 2025, it immediately launched an internal review, verified transaction flows, and cooperated in submitting user information, ultimately terminating the account permissions of these two entities in August 2025 and January 2026, respectively. Binance emphasized that it has not found any accounts directly transacting with Iranian entities. Furthermore, Binance refuted the rumor of “discovering thousands of Iranian-related accounts,” clarifying that it has never made such a judgment and reiterated that any behavior that circumvents geographical restrictions through VPNs is a serious violation. The company stated that it will continue to proactively identify risks, remove non-compliant accounts, and maintain close cooperation with global regulators to maintain platform compliance and financial security.