Binance Challenges WSJ Report on Compliance Practices

Binance, one of the world's largest cryptocurrency exchanges, has formally challenged a recent Wall Street Journal (WSJ) investigation into its sanctions compliance program.

The WSJ report, which was published earlier this month, alleged that Binance processed over $1 billion in crypto transactions linked to Iranian entities, including accounts connected to sanctioned organizations.

Binance denies these claims and has accused the WSJ of publishing false and misleading information. In a letter sent by law firm Withers Bergman LLP, the exchange argues that the report misrepresents its compliance actions and fails to include company responses provided before publication.

The exchange also disputes allegations that it suppressed internal investigations and retaliated against employees who flagged compliance risks.

Binance has invested heavily in monitoring and sanctions screening, with over 1,500 compliance-related personnel on staff. The exchange maintains that its sanctions-related exposure fell sharply between 2024 and 2025, and that any accounts linked to potential risks were investigated and offboarded.