Binance Claps Back At Senator Blumenthal’s Allegations, Denouncing False Claims
Binance has formally responded to US Senator Richard Blumenthal (D-CT) following a congressional letter during which the lawmaker cited media reviews alleging the corporate enabled large-scale violations of US and worldwide sanctions involving Iran.
In an open letter printed Friday, Binance rejected the claims and accused the senator of counting on what it described as false and defamatory reporting.
Binance Denies Enabling Iranian Money Laundering
Senator Blumenthal’s inquiry referenced articles printed in February 2026 by The New York Times, Fortune, and The Wall Street Journal.
Those reviews, based on the senator, instructed Binance had disregarded warnings designed to forestall Iranian cash laundering schemes and had allowed roughly $1.7 billion in transfers linked to Iran.
In its response, Binance said it takes its authorized and regulatory duties severely and shares the senator’s said curiosity in sustaining a secure buying and selling platform. However, the corporate disputed the accuracy of the reviews cited within the letter, calling them demonstrably false and defamatory in a number of important respects.
Binance emphasised that it maintains strict Know Your Customer (KYC) and compliance procedures and expressly prohibits customers residing in or positioned in Iran from accessing its platform.
The change additionally responded to claims, repeated within the senator’s letter and attributed to The Wall Street Journal, that Binance compliance had recognized 2,000 accounts related to Iranian entities regardless of its said ban on Iranian customers.
Binance flatly denied making any such willpower. The firm mentioned it enforces necessary identification verification for all prospects and doesn’t knowingly onboard customers with incomplete or inaccurate documentation.
It instructed the declare could stem from its ongoing efforts to strengthen controls associated to using digital personal networks (VPNs). The agency reiterated that any try to bypass eligibility necessities by means of VPN utilization violates its phrases of service.
Employee Departures Not Linked To Iran Probe
In addition to compliance considerations, the senator’s letter referenced media reports concerning the therapy of sure staff concerned within the Hexa Whale and Blessed Trust investigations.
Binance mentioned these reviews contained important inaccuracies and rejected solutions that staff had been dismissed for escalating compliance considerations.
While declining to reveal particular personnel particulars because of privateness concerns, the corporate acknowledged that some compliance workers and contractors have lately departed, most by means of voluntary resignations.
Binance reiterated that its compliance framework is repeatedly evolving and strengthening. The firm mentioned that when credible threat data arises, it investigates totally, removes accounts when mandatory, and reviews to applicable authorities.
With respect to the issues raised in Blumenthal’s letter, Binance argued that its compliance techniques functioned as supposed. The change pledged to proceed cooperating with legislation enforcement and advancing what it described as its broader mission of constructing core infrastructure for the worldwide crypto ecosystem.
Featured picture from OpenArt, chart from TradingView.com
