Binance Appeals $4.4M Fine by Canada’s FINTRAC Over AML Violations

Quick Summary:

Binance, a global cryptocurrency exchange, has formally challenged a $4.4 million fine levied by Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC).

The fine, imposed in May, accuses Binance of failing to adhere to anti-money laundering (AML) and Countering the Financing of Terrorism (CFT) regulations.

Binance’s regulatory challenges extend beyond Canadian borders.

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Article Details

Author / Journalist: Maxwell Mutuma

Category: Crypto

Markets: IndiaCanadaNigerNigeriaUnited States

Topics: Regulation News 24/7 Cryptocurrency News Binance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-19 @ 23:05:58 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 372 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21316005

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 37 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #59

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