- Binance is pushing U.S. officials to remove its independent AML compliance monitor.
- The exchange reports major AML improvements, with sanctions exposure dropping sharply since 2024.
- Binance says it assisted law enforcement in 71,000+ cases and helped seize $131M in illicit funds.
Binance, the world’s largest crypto exchange, is facing internal shake-ups as its global compliance chief, Noah Perlman, is reportedly considering leaving later this year. The development comes while the exchange pushes U.S. officials to remove its independent AML monitor, arguing that compliance risks have dropped and cooperation with law enforcement has significantly improved.
Leadership Changes Raise Compliance Questions
Noah Perlman joined Binance in January 2023 to strengthen sanctions enforcement and anti-money-laundering controls after the company admitted to U.S. violations. His possible departure now raises questions about the stability of Binance’s compliance operations.
Bloomberg reported that teams handling financial-crime monitoring and sanctions enforcement are also seeing staff changes. These groups were crucial to carrying out the $4.3 billion plea deal, which included $2.5 billion in forfeiture and a $1.8 billion criminal fine.
Binance, however, said Perlman has no confirmed exit date and remains committed to ongoing compliance efforts
Binance Highlights AML Improvements
The company says it has increased compliance staff by more than 30% and cut illicit activity exposure by 96% between January 2023 and June 2025.
“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,” Perlman said in March.
However, a Financial Times investigation found that suspicious accounts tied to financing continued operating even after promised monitoring improvements. Hundreds of millions of dollars in questionable transactions reportedly moved through Binance following the plea deal.
These findings raise doubts about whether the compliance system is truly effective, especially with leadership changes looming.
Regulatory Pressure and Market Implications
Binance is also pushing U.S. officials to remove an independent monitor that oversees its AML compliance. The company reported that sanctions exposure dropped from 0.284% in January 2024 to 0.009% by July 2025. It says over 71,000 law enforcement requests were handled, helping confiscate $131 million linked to illicit activity.
Still, with Perlman considering leaving and staff turnover continuing, it remains unclear if these improvements can be maintained. Regulators and investors are likely to watch closely to see if Binance can keep its compliance on track.
Related: IMF Warns That Tokenization Could Accelerate Global Financial Crises
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