Canada fines Binance $4.38 mln for money laundering violations

It added that Binance, which ceased operations in Canada last year, had not reported receiving virtual worth C$10,000 or more on 5,902 separate occasions between June 1, 2021 and July 19, 2023.

Binance did not immediately respond to a Reuters request for comment.

The latest development comes weeks after Binance's former CEO was sentenced to four months in after pleading guilty to violating U.S. laws against money laundering.

Binance agreed to a $4.32 billion , and Zhao paid a $50 million criminal fine plus $50 million to the .

($1 = 1.3684 Canadian dollars)

Source: Forex-Markets-Economic Times