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Author: Turner Wright, Cointelegraph; Compilation: White Water, Bit Chain Vision Realm
Cryptocurrency Exchange Binance appealed for a $ 4.4 million fine on the Canadian Financial Transactions and Report Analysis Center (FINTRAC) in May.
Binance Holdings Co., Ltd. submitted a legal appeal notice to the Federal Court of Canada on June 5th, accusing him of not complying with anti -money laundering (AML) and cracking down on terrorist (CFT) regulations.The regulatory agency announced on May 9 that the Binance has fined more than 6 million Canadian dollars (about $ 4.4 million).The reason is that its violations include unregistered foreign currency service companies and digital currency transactions that have not reported more than $ 10,000.
According to reports,Binance stated in the appeal that its services were not directly facing Canadian residents.The exchange announced that it was planned to withdraw from the Canadian market in May 2023 because the supervision environment was not good.
FINTRAC’s decision has nothing to do with Binance’s legal disputes in other countries.In November 2023, the company reached a $ 4.3 billion settlement agreement with the US authorities, requiring the then CEO Zhao Changpeng to step down.Zhao Changpeng pleaded guilty to a felony charges and is currently serving a prison in Federal Prison for four months.
In February, the Nigerian authorities detained two Binance executives because the company was suspected of tax evasion and money laundering.The British and Kenya National Nadeem Anjarwalla escaped the Nigerian detention center. He was in Kenya when this article was published.According to reports, Tigran Gambaryan, a former Agreement of the National Taxation Agency, was infected with malaria during the detention of Nigeria.
