Binance, the world’s largest cryptocurrency exchange, has been fined C$6 million ($4.4 million) by Canada’s financial regulator, FINTRAC. The penalty was imposed due to Binance’s alleged failure to comply with money-laundering protections, specifically related to registering as a foreign money services business and reporting virtual currency transactions. Despite the regulatory challenges, Binance has expressed its commitment to increasing compliance by appointing a new board of director...
