In an open letter published Friday, Binance rejected the claims and accused the senator of relying on what it described as false and defamatory reporting.
Binance Denies Enabling Iranian Money LaunderingSenator Blumenthal’s inquiry referenced articles published in February 2026 by The New York Times, Fortune, and The Wall Street Journal.
Those reports, according to the senator, suggested Binance had disregarded warnings designed to prevent Iranian money laundering schemes and had allowed approximately $1.7 billion in transfers connected to Iran.
The exchange also responded to claims, repeated in the senator’s letter and attributed to The Wall Street Journal, that Binance compliance had identified 2,000 accounts associated with Iranian entities despite its stated ban on Iranian users.
Binance flatly denied making any such determination. The company said it enforces mandatory identity verification for all customers and does not knowingly onboard users with incomplete or inaccurate documentation.
Employee Departures Not Linked To Iran ProbeBinance said those reports contained significant inaccuracies and rejected suggestions that employees were dismissed for escalating compliance concerns.
While declining to disclose specific personnel details due to privacy considerations, the company acknowledged that some compliance staff and contractors have recently departed, most through voluntary resignations.
With respect to the matters raised in Blumenthal’s letter, Binance argued that its compliance systems functioned as intended. The exchange pledged to continue cooperating with law enforcement and advancing what it described as its broader mission of building core infrastructure for the global crypto ecosystem.
Featured image from OpenArt, chart from TradingView.com
