Binance Threatens Legal Action Against Wall Street Journal Over Iran Compliance Report
Binance has threatened authorized motion towards The Wall Street Journal (WSJ), accusing the publication of defamation. The trade demanded corrections and retraction of a latest investigation into its sanctions compliance program.
CEO Richard Teng confirmed the transfer publicly on February 24. He said that the trade had formally challenged the report and despatched a authorized letter outlining its objections.
Binance Denies Sanctions Violations
The letter, despatched by regulation agency Withers Bergman LLP, accuses WSJ of publishing false and deceptive claims that broken Binance’s popularity.
Binance argues the article misrepresented its compliance actions and failed to incorporate the corporate’s responses supplied earlier than publication.
Specifically, Binance denies allegations that it violated Iranian sanctions or suppressed inside investigations. Its legal professionals stated the report falsely advised the trade engaged in unlawful conduct and retaliated towards staff who flagged compliance dangers.
The letter additionally accused WSJ of failing to stay truthful and neutral.
In parallel, Binance printed a blog defending its compliance program and disputing the investigation’s conclusions.
The trade stated it maintains greater than 1,500 compliance-related personnel and invests closely in monitoring, sanctions screening, and monetary crime detection.
It additionally said that sanctions-related exposure fell sharply between 2024 and 2025 and that any accounts linked to potential dangers had been investigated and offboarded.
Binance additional denied firing employees for elevating compliance considerations.
Instead, it stated some staff had been dismissed after inside opinions discovered breaches of confidentiality and knowledge dealing with insurance policies.
WSJ Investigation Alleged Over $1 Billion in Iran-Linked Crypto Flows
The dispute follows a WSJ investigation that alleged Binance processed over $1 billion in crypto transactions linked to Iranian entities, together with accounts related to sanctioned organizations.
The report additionally claimed inside investigators flagged the exercise and that some had been later dismissed, elevating considerations about enforcement of sanctions controls.
Binance has rejected these claims and is now searching for formal corrections.
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