Binance’s chief compliance officer is weighing a potential exit as multiple financial crime and sanctions staff depart. The developments come less than two years after the exchange agreed to a $4.3 billion U.S. settlement, intensifying scrutiny over its compliance rebuild.
Bloomberg reported that Noah Perlman, who joined Binance in January 2023 to lead anti-money laundering (AML) and sanctions reforms, is discussing a possible departure with management. The reported turnover has affected teams responsible for transaction monitoring and sanctions enforcement.
Can Binance Sustain Its Compliance Overhaul Momentum?
Perlman was hired following Binance’s admission of violations tied to the Bank Secrecy Act and sanctions laws. The settlement, one of the largest in U.S. corporate enforcement history, included $2.5 billion in forfeiture and a $1.8 billion criminal fine.
Since then, Binance has emphasized internal progress. The company said it expanded compliance headcount by more than 30% and reduced illicit activity exposure by 96% between January 2023 and mid-2025.
“A 96% reduction in illicit exposure is a testament to our infrastructure,” Perlman said previously, citing over 1,500 staff supporting compliance operations.
But does staff turnover risk undermining these gains as regulatory pressure persists?
External assessments have raised questions. A Financial Times investigation reported that suspicious accounts tied to illicit activity continued operating on the platform after the 2023 plea agreement, with hundreds of millions of dollars in flagged flows.
At the same time, Binance has been seeking to ease oversight conditions tied to the settlement. According to the Wall Street Journal, executives have pushed to remove an independent U.S. monitor assigned to supervise its AML controls.
Regulatory scrutiny has already reshaped the exchange’s leadership and operations, including the resignation and guilty plea of founder Changpeng Zhao. U.S. officials have previously accused the platform of enabling flows linked to criminal networks and sanctioned entities.
Binance maintains that Perlman remains in his role with no confirmed departure timeline. The next catalyst will be whether leadership stability and staffing levels hold as regulators continue to evaluate the effectiveness of its compliance framework.
