- Binance reports 97% drop in Iran linked exposure
- Company denies firing investigators over sanctions concerns
- Compliance workforce now represents quarter of Binance global staff
Binance has stepped forward with new data as scrutiny over its Iran related exposure intensifies. The exchange says it reduced sanctions linked activity by 97% since January 2024. According to the company, transactions tied to sanctioned entities now represent just 0.009% of total trading volume.
The disclosure follows a Feb. 13 Fortune report that cited anonymous sources. Those sources alleged that internal investigators uncovered possible Iranian sanctions violations. However, Binance denied the claims and described the report as inaccurate.
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Company Pushes Back Against Allegations
In response to the media coverage, Binance stated that no investigator was dismissed for raising compliance concerns, explaining that certain compliance employees left after an internal review. That review identified breaches involving company data protection and confidentiality guidelines. Moreover, Binance argued that recent reporting relied on incomplete accounts, and according to the company, those narratives failed to reflect the full investigative record.
It maintained that its sanctions compliance framework continues to operate under strict internal controls. The renewed attention echoes earlier scrutiny from 2022, when Reuters reported that Iranian users continued trading after blacklisting measures took effect. Consequently, regulators have continued to monitor Binance’s cross border exposure closely.
Data Highlights Sharp Decline in Iranian Exposure
Alongside its denial, Binance released detailed figures on Iranian exchanges. Between January 2024 and January 2026, direct exposure to four major Iranian exchanges fell from $4.19 million to $110,000. That decline represents more than a 97% reduction over two years. Additionally, the exchange emphasized broader compliance investments. Binance stated that roughly 25% of its global workforce now focuses on compliance roles. It also reported spending hundreds of millions of dollars to strengthen monitoring systems and enforcement tools.
Besides reducing direct exposure, the company highlighted improved transaction screening processes. Enhanced risk detection systems now flag suspicious flows more quickly, according to the exchange. Therefore, Binance presented the updated metrics as evidence of tightened oversight.Global regulators have increased enforcement around sanctions compliance across financial markets. As a result, crypto platforms face higher expectations for transparency and risk management. Binance’s latest disclosure seeks to demonstrate measurable progress amid renewed scrutiny.
Binance’s reported 97% reduction in Iran linked exposure comes during heightened media attention. While allegations continue to circulate, the exchange points to updated data and expanded compliance efforts to reinforce its position.
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