Crypto exchange Binance announced a substantial decrease in its exposure to sanctioned entities and high-risk jurisdictions, including Iran, since January 2024. The company stated that its sanctions-related exposure, as a percentage of total exchange volume, has fallen by approximately 97% to around 0.009%.
This statement follows a report alleging Binance fired investigators who uncovered evidence of Iranian sanctions violations. Binance has categorically denied these allegations, asserting that no compliance personnel were dismissed for raising concerns. The exchange clarified that some employees departed due to breaches of data-protection and confidentiality guidelines.
Binance further detailed that its direct exposure to the four top Iranian exchanges decreased by over 97% between January 2024 and January 2026, from $4.19 million to $110,000. The exchange emphasized that recent reporting is based on incomplete accounts and does not reflect the full investigative record.
Currently, about 25% of Binance's global workforce is dedicated to compliance functions, with hundreds of millions of U.S. dollars invested in its compliance programs.