Canadian regulator FINTRAC has imposed a fine of CAD 6 million ($4.4 million) on cryptocurrency exchange Binance for violating anti-money laundering rules. 🇨🇦

Binance is accused of failing to report transactions over $10,000 on 5,902 occasions between June 2021 and July 2023.

This will follow similar regulatory oversight that Binance faced in the US. In November 2023, the US Department of Justice reached an agreement with the exchange to pay $4 billion as part of the settlement of charges of money laundering and violation of sanctions.