Binance says sanctions exposure has declined 97% since 2024
Binance doubled down on its compliance credentials in a blog post after a report published earlier this month accused it of sanction violations.
Crypto exchange Binance says it has “significantly reduced exposure” to sanctioned entities and high-risk jurisdictions, including exposure to Iran since January 2024.
In a blog post titled “Setting the record straight” on Monday, Binance said its sanctions-related exposure as a percentage of total exchange volume has fallen by about 97% in that time, and now sits at around 0.009%.
The post comes after a Feb. 13 Fortune report citing anonymous sources alleging that Binance fired at least five investigators who had supposedly uncovered evidence of Iranian sanctions violations.