According to Reuters, Binance, the world’s largest cryptocurrency exchange, was fined $4.4 million by Canadian authorities for Rule Violations.
Canadian Financial Transactions and Reports Analysis Center (FINTRAC) announced today that it fined cryptocurrency exchange Binance approximately 6 million Canadian dollars ($4.38 million) for violating money laundering and terrorist financing laws.
In its statement, FINTRAC said that although it warned Binance many times, it did not register with them as a foreign money services company.
As it is known, Binance stopped its activities in Canada last year.