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Binance has threatened legal action against the Wall Street Journal (WSJ), accusing the publication of libel. The agency requested corrections and the withdrawal of a recent investigation into its sanctions compliance program.
CEO Richard Ting publicly confirmed the move on February 24. It was reported that the exchange had formally challenged the report and had sent a legal letter outlining its objections.
Binance denies sanctions violations
The letter, sent by attorney Withers Bergman LLP, accuses the Wall Street Journal of publishing false and misleading claims that damage Binance’s reputation.
Binance claims that the article misrepresented its compliance procedures and did not include the company’s responses provided prior to publication.
precisely, Binance denies the allegations That violated Iranian sanctions or suppressed internal investigations. His lawyers said the report falsely suggested the exchange engaged in illegal conduct and retaliated against employees who pointed out compliance risks.
The letter also accused the Wall Street Journal of not being fair and impartial.
In parallel, Binance has published Blog It defends its compliance program and disputes the investigation’s conclusions.
The exchange said it keeps more than 1,500 employees in compliance and invests heavily in monitoring, sanctions screening and financial crime detection.
As I said Exposure related to sanctions It decreased drastically between 2024 and 2025, and all accounts associated with potential risks were investigated and eliminated.
Binance has also denied firing employees for raising compliance concerns.
Instead, he said some employees were fired after internal reviews showed violations of privacy and data management policies.
An investigation by the Wall Street Journal claimed more than $1 billion in cryptocurrency flows linked to Iran
This dispute comes after a Wall Street Journal investigation that claimed Binance handled more than $1 billion Of digital currency transactions linked to Iranian entitiesincluding accounts linked to sanctioned organisations.
The report also stated that internal investigators reported the activity and that some of it was later ignored, raising concerns about the enforcement of sanctions controls.
Binance has rejected the allegations and is now seeking official corrections.
