Binance, a leading cryptocurrency exchange, has announced a substantial decrease in its exposure to sanctioned entities and high-risk jurisdictions. The company stated that its direct exposure to the four largest exchanges in Iran has fallen by over 97% since January 2024, from $4.19 million to $110,000.
This reduction aligns with intensified compliance efforts, which now involve approximately 25% of Binance's global workforce dedicated to compliance functions, backed by hundreds of millions of dollars in investment.
The exchange has also refuted claims of laying off investigators who uncovered potential sanctions violations, stating that some employees departed after internal reviews found breaches of data-protection and confidentiality guidelines.
Binance maintains that recent reports on its sanctions compliance rely on incomplete and misrepresented accounts, failing to present the full investigative record.