Canada's anti-money laundering regulator fines Binance $4.4 million

Binance Holdings Ltd, a cryptocurrency exchange, has been fined CAD 6 million (approximately USD 4.4 million) by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for violating anti-money laundering regulations. The report states that Binance was penalized for failing to register as a foreign money services business and for not reporting virtual currency transactions exceeding CAD 10,000. The fine was issued on Tuesday of this week, and the Canadian regulatory agency announced the news to the public on Thursday.

Comments

All Comments

Recommended for you

Nigeria's Securities Regulator: Global Cryptocurrency Exchanges Have Delisted Naira

The Nigerian securities regulator recently stated that global cryptocurrency exchanges have complied with its directive to delist Naira from their respective P2P platforms. The US SEC cited Kucoin's recent announcement of Naira's delisting and related services as evidence supporting its claims. The acting director of the Nigerian Securities and Exchange Commission called on platforms engaged in activities that harm national interests to stop such activities.
Nigerian court denies bail request for Binance chief Tigran Gambaryan

A Nigerian court has rejected the bail application of Tigran Gambaryan, the compliance chief of Binance Finance. Judge Emeka Nwite believes that if the Binance executive's application is approved, he may not continue to appear in court. A Binance spokesperson expressed disappointment and sadness at the ruling. The court will adjourn for cross-examination on May 23.
Cointime精选 ·

Glitch Weekly: How crypto became a political football

A tale of two DC crypto conferences
Messari ·

State of Skale

The network collected $228,000 in chain payments after launching them in January. Instead of charging end users via transaction fees, SKALE generates fees by charging developers a subscription fee in SKL for operating a SKALE chain.
Cointime精选 ·

Derivatives Market for Implementing Based Sequencing

This article introduces a derivatives market designed to implement based sequencing for fast finality in rollups. The proposed market aims to align incentives between Ethereum and rollups, mitigate operational risks associated with rollups, and promote voluntary participation and fair competition among rollups, proposers, and builders.
Ryan Sean Adams ·

Will this cycle skip Ethereum?

Ryan Sean Adams is going to take the perspective of long-term Ethereum bulls, not the obviously wrong dyed in the wool Ethereum is dead haters.
Cointime精选 ·

Genesis Global secures court approval for $3B payout

According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.
Jesse Hamilton ·

Crypto Industry Rallies Behind House Bill as It Heads Toward Final Vote

The so-called FIT21 legislation to establish a U.S. regulatory regime for digital assets is set for a floor vote next week, and the sector is telling House leaders the effort is "crucial."
cointelegraph ·

If SEC approves spot Ether ETFs, many ‘will be caught severely offside’

Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
cointelegraph ·

LayerZero identifies over 800K addresses in sybil self-reporting phase