Canada's anti-money laundering watchdog fines Binance $4.40 million
2024-05-09 16:15:57
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has fined cryptocurrency exchange Binance Holdings Ltd 6 million Canadian dollars (about 4.40 million U.S. dollars) for violating anti-money laundering regulations. Binance was reportedly penalized for not registering as a foreign money services business and for not reporting virtual currency transactions in excess of 10,000 Canadian dollars. The fine was issued on Tuesday and was announced by Canadian regulators on Thursday.
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