Binance: Sanctions-Related Exposure Down 97% Since 2024

Binance revealed that its exposure to sanctioned entities and high-risk jurisdictions has declined by approximately 97% since January 2024, underscoring what the company described as substantial progress in compliance, monitoring, and risk controls.In a blog post published Monday titled “Setting the Record Straight,” Binance said sanctions-related activity now represents just 0.009% of total exchange volume, following significant internal and structural reforms over the past two years.Response to Recent AllegationsThe update follows recent media reporting that alleged Binance dismissed investigators who had raised concerns about sanctions compliance. Binance rejected those claims, stating that no employee was terminated for flagging compliance or sanctions-related issues.According to the company, several staff departures referenced in the reporting stemmed from internal reviews that identified violations of data protection and confidentiality policies, not from whistleblowing or compliance-related actions.Binance said recent reports relied on “incomplete and mischaracterized accounts” that do not reflect the full investigative record or the scope of its compliance framework.Iran-Linked Exposure ReducedBinance disclosed that between January 2024 and January 2026, its direct exposure to the four largest Iranian exchanges fell from approximately $4.19 million to $110,000, representing a reduction of more than 97%.The company attributed the decline to tighter jurisdictional controls, enhanced sanctions screening, and more robust transaction monitoring systems designed to limit access from restricted regions.Compliance Investment and OversightBinance said compliance remains a central focus of its operations. Approximately 25% of its global workforce is now dedicated to compliance, investigations, and risk management functions.The exchange added that it has invested hundreds of millions of dollars in compliance programs, including sanctions enforcement, regulatory engagement, and advanced monitoring technologies, as part of its ongoing efforts to align with global regulatory expectations.Ongoing Regulatory EngagementBinance acknowledged that it continues to operate under close regulatory scrutiny, noting that its compliance framework has evolved significantly since earlier industry-wide challenges.The company said it remains committed to transparency and cooperation with regulators, emphasizing that sanctions-related activity now represents a negligible share of overall trading volume, reflecting what it views as measurable progress in reducing risk exposure.