By Robb M. StewartCanada's financial crime watchdog levied a fine equivalent to $4.4 million against Binance for compliance failings, adding to the cryptocurrency exchange's regulatory woes. The Financial Transactions and Reports Analysis Centre of Canada aid Thursday it imposed an administrative penalty of 6 million Canadian dollars on Binance for non-compliance with the laws related to money laundering and terrorist financing. Binance last November pleaded guilty to violating U.S. anti-money-laundering requirements and agreed to pay a $4.3 billion fine. Earlier this month, Fintrac imposed a C$9.19 million penalty on Toronto-Dominion Bank, one of the country's largest lenders, for compliance failings tied to monitoring and reporting suspected money laundering and terrorist financing. The bank remains in discussions with U.S. authorities over regulatory and law enforcement investigations into its compliance with America's anti-money laundering rules.

Source: Wall Street Journal May 09, 2024 14:49 UTC