TechFlow reports that Canadian regulators have fined Binance $4.3 million, accusing it of operating without registration as a foreign money services business and failing to report nearly 6,000 cryptocurrency transactions exceeding $10,000 each to authorities.
Previously, Binance agreed to pay $4.3 billion in penalties to the United States, while its former CEO Changpeng Zhao was sentenced to four months in prison for failing to implement adequate KYC/AML programs. Binance is also facing regulatory challenges in Nigeria, where a senior executive has been charged with money laundering and tax evasion. The company's CEO has called for the executive’s release, claiming that someone previously offered a bribe of $150 million in cryptocurrency to drop the charges.
