🚨Crypto enthusiasts, buckle up! Binance, the world's largest crypto exchange, has been slapped with a $4.4 million fine by Canada for violating anti-money laundering rules last year. 😮

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) found Binance guilty of two violations during a compliance activity in 2023. The crypto giant failed to register as a foreign money services business (FMSB) and did not report large virtual currency transactions exceeding $10,000 CAD. A whopping 5,902 transactions weren't reported properly between June 2021 and July 2023. 📝💰

This fine comes hot on the heels of Binance co-founder and ex-CEO, Changpeng Zhao (CZ), being sentenced to four months in prison for failing to implement an adequate know-your-customer (KYC) and anti-money laundering (AML) regime at his exchange. 😱

But wait, there's more! Binance is currently juggling a massive lawsuit from the Securities and Exchange Commission (SEC) for listing alleged securities on its platform. The firm's current CEO Richard Teng is also wrestling with the Nigerian government to release a detained Binance executive. 🥊

In Canada, Binance has already closed its operations due to its inability to meet the nation's regulatory standards. Meanwhile, Coinbase has recently become the first foreign exchange to gain a full license to operate in the country. 🇨🇦

Despite the legal troubles, we remain optimistic about Bitcoin. Stay tuned for more updates! 🚀🌕