Crypto exchange Binance says it has dramatically scaled back its exposure to sanctioned entities and high-risk jurisdictions, including Iran, as it moves to reinforce its compliance credentials.
In a blog post published Monday titled “Setting the Record Straight,” the exchange disclosed that its sanctions-related exposure as a share of total trading volume has dropped roughly 97% since January 2024. According to Binance, that figure now stands at approximately 0.009% of overall exchange activity.
At every stage, Binance followed its industry-leading compliance procedures and coordinated with relevant authorities.
The outcome: 96.8% reduction in sanctions-related exposure since 2024, 71,000+ law enforcement requests processed, and $131M+ supported in confiscations in… pic.twitter.com/e9MQbuITq3
— Binance (@binance) February 22, 2026
The statement follows a February 13 Fortune report that cited anonymous sources claiming the company dismissed at least five investigators who had allegedly uncovered potential Iranian sanctions breaches. Binance pushed back days later, calling the allegations “categorically false” and maintaining that no employee was terminated for raising compliance concerns or flagging possible sanctions violations.
Binance details reduction in Iranian exposure
In its latest clarification, Binance said that between January 2024 and January 2026, it reduced its direct exposure to the four largest Iranian exchanges by more than 97%. The exchange reported that transaction flows tied to those platforms fell from $4.19 million to roughly $110,000 over the two years.
The company argued that recent media coverage relied on “incomplete and mischaracterized accounts” that failed to present the full context of its internal reviews and compliance processes.
Binance also stated that certain compliance staff departures followed an internal investigation that identified breaches of company data-protection and confidentiality policies, rather than retaliation for whistleblowing.
Compliance push amid past scrutiny
The renewed emphasis on sanctions compliance comes as Binance continues to navigate heightened regulatory scrutiny globally. The firm said about 25% of its global workforce is now dedicated to compliance roles, and that it has invested “hundreds of millions of US dollars” in strengthening its oversight frameworks, transaction monitoring systems, and investigative capabilities.
The exchange previously faced similar scrutiny in 2022 after a report by Reuters alleged that Iranian users were still able to trade on the platform despite official restrictions.
By publishing updated figures and staffing data, Binance appears keen to demonstrate that its risk exposure and compliance posture have materially improved.
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