Binance pushes back against U.S. scrutiny, outlining a sweeping compliance system, thousands of law-enforcement collaborations, and aggressive monitoring tools as it challenges allegations that the world’s largest crypto exchange failed to police illicit activity.

Binance Counters Congressional Concerns, Says Investigations Triggered Account Removals and Risk Controls

Crypto exchange Binance issued a formal response to a congressional inquiry regarding its compliance practices. The global platform published the response on March 6 to a Feb. 24 letter from U.S. Senator Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations, which sought records and explanations related to sanctions compliance.

Crypto exchange Binance issued a formal response to a congressional inquiry regarding its compliance practices. The global platform published the response on March 6 to a Feb. 24 letter from U.S. Senator Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations, disputing what it described as “false, unsupported, and defamatory claims about our compliance program and sanctions controls.”

Binance claimed:

“Recent reporting on Binance’s sanctions compliance is false, appears to be based on a misunderstanding of the facts, and does not fully reflect the broader investigative work that Binance has undertaken.”

“While the company cannot disclose details that could compromise ongoing law enforcement investigations,...

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