Binance Challenges WSJ Report on Sanctions Compliance

Binance has taken issue with a recent report by the Wall Street Journal (WSJ) into its sanctions compliance program. In response to the allegations, Binance has sent a legal letter outlining its objections to the article's claims.

The WSJ had reported that Binance processed over $1 billion in crypto transactions linked to Iranian entities, including accounts connected to sanctioned organizations. The report also alleged that internal investigators flagged the activity and were later dismissed, raising concerns about enforcement of sanctions controls.

Binance has rejected these claims, stating that its compliance program worked properly and that any sanction-related exposure fell sharply between 2024 and 2025. According to Binance, accounts linked to potential risks were investigated and offboarded, and employees who raised compliance concerns were not fired but rather dismissed for breaches of confidentiality and data handling policies.