Binance Fined $4.3M by Canadian Financial Regulator for ‘Administrative Violations’

Canadian regulators hit Binance with a C$6 million ($4.3 million) fine on Tuesday, alleging the crypto exchange committed two separate “administrative violations” of the country’s financial regulations. In a Thursday press release, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the country's financial intelligence unit and top financial regulator, said Binance failed to register as a foreign money services business despite being provided with “several opportunities” to do so. The agency discovered the violations using blockchain explorer tools. Binance is also battling financial regulators in Nigeria.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android