Binance pushed back on Sen. Richard Blumenthal’s inquiry into its sanctions controls, saying the senator’s questions relied on media claims the exchange described as inaccurate and defamatory.
Binance’s March 6 response followed Blumenthal’s February 24 inquiry seeking records tied to reported Iran- and Russia-linked activity on the platform. The exchange used its reply to dispute that coverage and outline its own account of its compliance and investigative work.
In its response, Binance said the inquiry was based largely on media coverage it considers inaccurate and defamatory. The company said that reporting mischaracterized its sanctions enforcement and investigative work and pointed instead to its internal reviews, offboarding measures, and broader compliance expansion.
Binance said it has invested hundreds of millions of dollars in compliance infrastructure, employs more than 1,500 compliance personnel worldwide, and uses more than 25 tools for due diligence, transaction monitoring, sanctions screening, and behavioral analytics. The company presented that scale as evidence of a system designed to detect and reduce illicit risk across a global platform.
Binance also highlighted its cooperation with law enforcement agencies. The company said it processed more than 71,000 law-enforcement requests in 2025 and helped agencies seize more than $752 million in illicit assets over the past three years, including nearly $579 million for U.S. authorities. Binance also said exposure to major Iranian exchanges fell 97.3% over two years.
Founded in 2017, Binance describes itself as the world’s largest digital asset exchange by user base and trading activity. The company operates an ecosystem that includes spot and derivatives markets, payment tools, and Web3 infrastructure. Binance says security, education, and regulatory cooperation are core pillars of its platform.
