Binance Rejects Fortune Report on Iran-Linked Transfers

Binance denies Fortune allegations, disputes Iran-linked transfer claims, highlights audit findings, compliance controls, and monitoring commitments amid renewed regulatory scrutiny.

Crypto exchange Binance has firmly rejected allegations raised in a recent investigative report. The company denied allegations about Iran-linked transactions that are processed through its platform. Consequently, the reaction sparked debate on sanctions compliance and regulatory oversight in global cryptocurrency markets.

Fortune Report Triggers Compliance Dispute

Business magazine Fortune said that internal investigators unearthed more than $1 billion in transfers. These transactions, which allegedly involved Iranian-linked entities between March 2024 and August 2025. Moreover, the report alleged that the movements were using USDt stablecoin of Tether operating on the Tron blockchain.

However, Binance leadership strongly denied that it had facilitated any sanctions-violating financial activity on its platform. The exchange said an internal audit found that there had been no violations of international sanctions laws. Additionally, external legal advisers were said to have reviewed policies, controls, and procedures during the compliance assessment.

Related Reading: Binance Denies $1B Iran Claims, Changpeng Zhao Cites AML

Binance also denied allegations that compliance investigators were fired after voicing internal concerns. The company maintained that company staff departures had nothing to do with whistleblowing or compliance objections. However, the report pointed to at least 5 investigator exits for late 2025.

Former CEO Changpeng Zhao publicly criticized the conclusions of the article as inconsistent and contradictory. He argued that suspicious flows, if detected, should have been prevented immediately with the use of controls. Furthermore, he pointed out that Binance was utilizing several third-party AML monitoring and surveillance tools.

Meanwhile, Binance assured that every transaction goes through layered compliance screening and surveillance systems. Such controls, the company said, are in line with standards used by law enforcement agencies around the world. Therefore, Binance believed that regulatory protections are active, strong, and constantly updated.

Binance Highlights Audit Findings and Monitoring Controls

The allegations have raised questions again after Binance’s massive settlement with U.S. authorities in 2023. That agreement included a $4.3 billion penalty and strict independent compliance monitoring requirements. As a result, regulatory bodies keep monitoring Binance’s commitment to global compliance rigorously.

In response, CEO Richard Teng publicly defended the exchange’s compliance framework and its governance standards. He again stated that audits and reviews did not find evidence of sanctions violations. Moreover, he emphasized Binance’s cooperation with regulators and investigating authorities in diverse jurisdictions.

However, market analysts observed that regulatory risks continue to influence confidence in the wider crypto industry. Sanctions compliance, therefore, continues to be a key issue for exchanges operating across international markets.

Additionally, analysts warned that allegations are not enough to prove regulatory wrongdoing or legal violations. They, however, stressed that investigations must include detailed processes of forensic tracking of transactions and independent verification. Therefore, authorities generally use audits, records, and structured cross-border cooperation mechanisms.

Meanwhile, the controversy is indicative of a larger global pressure for increased standards of cryptocurrency compliance and safeguards. Consequently, exchanges are continuing to invest heavily in monitoring technologies, analytics, and enhanced risk management systems. In the end, long-term regulatory alignment might influence trust in digital asset markets.

Furthermore, compliance experts underlined the importance of a continuous screening of transactions and verification of customers. Such systems, they explained, help detect suspicious flows before breaches of regulation take place.

Meanwhile, investors were watching things closely as regulation narratives affected the overall stability of the cryptocurrency market. However, exchanges tried reassuring the users with transparency initiatives, audits, and detailed policy disclosures. Ultimately, the Binance dispute represented changing expectations of accountability in rapidly transforming digital markets.

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