Binance has issued an official response following recent media coverage concerning ongoing court proceedings in Sri Lanka involving allegations of financial fraud connected to the use of Binance accounts by certain individuals. The clarification comes after report published by Sri Lanka Guardian yesterday, raised questions about the role of the global cryptocurrency exchange in the case.
In a statement released in response to the coverage, Binance said the allegations relate solely to the actions of specific parties and do not represent the company’s operations or policies. The exchange emphasized that it actively works with law enforcement agencies worldwide to combat fraudulent and illegal activities and remains committed to protecting the safety and security of its users.
Binance said it has already fully cooperated with Sri Lankan authorities during the investigation by providing the necessary support and information in response to official requests. The company noted that its status as a licensed exchange operating under Abu Dhabi Global Markets regulations and its global user base subject to Know Your Customer verification processes enable it to assist authorities effectively when investigations arise.
According to the company, it will continue to cooperate with Sri Lankan law enforcement throughout the investigation of individuals suspected of wrongdoing. Binance said that its compliance structure and licensing status are intended to support law enforcement agencies in identifying and addressing unlawful activity conducted through digital platforms.
The exchange also highlighted the scale of its compliance efforts, stating that it invests hundreds of millions of dollars in regulatory and compliance programs. Binance said that approximately 25 percent of its workforce is dedicated to compliance-related roles, forming what it describes as a world-class team responsible for maintaining strict oversight and adherence to international regulatory standards.
The company said its compliance framework includes robust procedures aligned with global best practices, particularly in areas such as Know Your Customer and Anti-Money Laundering policies designed to prevent misuse of the platform.
Binance added that transparency, user protection and regulatory cooperation remain central to its operations. The company said it remains committed to working closely with authorities to ensure that illegal activities are addressed while maintaining trust within the global cryptocurrency ecosystem.
The statement was issued in response to the earlier news report in Sri Lanka Guardian concerning the case currently being examined by Sri Lankan courts. Binance said it hopes the clarification helps address concerns about the company’s role while reinforcing its commitment to compliance and collaboration with regulatory and law enforcement bodies.
