Binance, a leading cryptocurrency exchange, is facing significant regulatory challenges globally. The company is appealing a $6 million fine imposed by Canada's financial intelligence unit, Fintrac. Additionally, Binance has been fined $4.4 million by Fintrac in May and $2.25 million by India's Financial Intelligence Unit (FIU) for anti-money laundering (AML) violations, the highest penalty ever imposed by the FIU. The compliance chief of Binance has urged stakeholders to 'root for our success' amidst these fines, a $4.3 billion fine, and the jailing of CEO Changpeng Zhao (CZ). The company's global operations are under scrutiny as fines and suspensions continue to mount.
ICYMI: Binance’s global operations under fire as fines and suspensions mount Read the full article 👇 https://t.co/odSSiorWD6 https://t.co/fD6d44uQYu
Binance’s global operations under fire as fines and suspensions mount https://t.co/tK4v1o3W1L
India's FIU Fines Binance $2.25 Million, Highest Ever for AML Violations https://t.co/llrkGPaTYj
FIU imposes $2.25 million penalty on foreign crypto exchange Binance https://t.co/oB0O9gRQ19 . . . #FIU | #Crypto | #penalty | #Binance | #BusinessNews | #RepublicTV | #RepublicTVLive | #RepublicBusiness
UPDATE: BINANCE FILES APPEAL AGAINST $4.4 MILLION FINE IMPOSED BY CANADIAN REGULATOR FINTRAC IN MAY
Crypto exchange Binance appeals $6-million fine imposed by Fintrac https://t.co/nZ1KWcGjA9 https://t.co/hAkWnxNnvP
Cryptocurrency exchange Binance Holdings appealing $6M fine imposed by Fintrac https://t.co/tEon6S1JKm
Binance compliance chief says ‘root for our success’ after $4.3bn fine and CZ jailed https://t.co/QqdWvnYV15