Crypto change Binance pushed again in opposition to a latest report by Fortune, rejecting allegations that it enabled sanctions-violating transactions tied to Iran and fired compliance investigators who raised issues.
Fortune reported Friday that inner investigators at Binance found greater than $1 billion in transfers linked to Iranian entities shifting by way of the platform between March 2024 and August 2025. The transactions have been mentioned to contain Tether’s USDt (USDT) stablecoin on the Tron blockchain.
Citing unidentified sources, the report claimed that not less than 5 investigators, a number of with law-enforcement backgrounds, have been later fired after documenting the exercise. The outlet additionally reported that extra senior compliance workers had departed the corporate in latest months.
Binance disputed the characterization in a proper response. “That is categorically false. No investigator was dismissed for elevating compliance issues or for reporting potential sanctions points as there are not any violations,” the change wrote in an e mail shared by CEO Richard Teng.
Binance denies sanctions violations after inner evaluate
Binance mentioned it performed a full inner evaluate with outdoors authorized recommendation and located no proof it had violated relevant sanctions legal guidelines in reference to the referenced exercise. It additionally rejected the suggestion that the change failed to satisfy its regulatory obligations below ongoing oversight.
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The dispute lands as Binance stays below heightened scrutiny since its 2023 settlement with US authorities by which it agreed to pay $4.3 billion for Anti-Money Laundering (AML) and sanctions violations. Founder Changpeng Zhao stepped down as CEO and later served a four-month jail sentence. Binance additionally agreed to being monitored and pledged to strengthen compliance controls.
Binance denied claims it’s failing to satisfy regulatory obligations, saying it continues to cooperate below monitoring and oversight necessities. “The article means that Binance is “reneging” on its regulatory obligations. This assertion is fake,” the change mentioned.
Binance acknowledged Cointelegraph’s request for remark, however had not responded by publication.
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FT report questions Binance compliance controls
A December report by the Monetary Occasions additionally claimed that Binance allowed a group of suspicious accounts to maneuver vital sums by way of the change even after its US prison settlement in 2023. Inside knowledge reviewed by the publication confirmed 13 such person accounts had about $1.7 billion in transactions since 2021, together with about $144 million after the plea settlement.
“We take compliance severely and reject the framing of the Monetary Occasions report,” a Binance spokesperson advised Cointelegraph on the time, including that every one transactions are assessed “based mostly on data accessible on the time,” and that not one of the wallets referenced have been sanctioned when the exercise referenced occurred.
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