Binance, the world’s largest cryptocurrency exchange, has reported a 96 per cent drop in direct exposure to illicit activities between January 2023 and June 2025, underscoring its commitment to regulatory excellence and user safety amid Nigeria’s growing digital finance sector.
Binance
The exchange highlighted investments in a robust compliance framework, including over 580 global compliance professionals and 970 staff in related roles, advanced transaction monitoring, stringent Know Your Customer (KYC) protocols, and anti-money laundering (AML) systems.
These measures align with evolving regulations across key markets, including Nigeria, where crypto adoption surges despite Central Bank of Nigeria (CBN) guidelines.
Binance’s Chief Compliance Officer, Noah Perlman, said: “At Binance we’ve built a system that doesn’t just react to threats, it anticipates them. A 96% reduction in illicit exposure is a testament to our infrastructure and the 1,500+ professionals working behind the scenes to protect our 300M users.”
Key achievements include a 96.8 per cent plunge in sanctions-related exposure—from 0.284 per cent in January 2024 to 0.009 per cent in July 2025. In 2025 alone, Binance responded to over 71,000 law enforcement requests, helping seize more than $130 million (over ₦200 billion) in illicit funds.
Collaborations with agencies like Europol, DEA, UK’s NCA, and national cybercrime units have dismantled ransomware groups, darknet markets, and trafficking networks.
Binance co-CEO Richard Teng added: “Our mission has always been to increase the freedom of money, but that freedom is only sustainable if it is built on a foundation of trust.
“By integrating compliance into our product DNA, we are proving that the world’s largest exchange can also be the most secure.”
The platform engages regulators and policymakers to shape balanced rules supporting innovation while prioritising transparency and financial integrity.
Since 2017, Binance has served over 300 million users, publishing regular compliance updates to build trust.
Industry watchers note Binance’s efforts resonate in Nigeria, where crypto trading volumes exceed $50 billion annually, but challenges like fraud and regulatory scrutiny persist. The exchange’s progress could bolster confidence as the CBN refines fintech policies.
Binance reaffirmed its dedication to a safer crypto ecosystem through ongoing investments and partnerships.
