Canadian authorities have fined cryptocurrency exchange Binance $4.38 million for money laundering and terrorist financing, despite the company leaving the country in 2023.
According to Reuters, Binance was not registered in Canada as an overseas financial services company, although the exchange was given several deadlines. They also failed to report receiving virtual currency worth 10,000 Canadian dollars from July 1, 2021 to July 19, 2023.
After the change of the Canadian legislation in the field of cryptocurrency, Binance left the country. Recall that in February, the court ordered the company to pay $4.3 billion in a money laundering case. The head of the crypto exchange Changpeng Zhao was sentenced to four months in prison, although for him requested three years in prison.
The U.S. Justice Department specified that Binance served clients in sub-sanctioned countries, as well as terrorists and drug dealers, which is contrary to U.S. laws. Crypto exchange. for example, made transactions for Iran, Syria, the Palestinian movement Hamas, as well as in Crimea, Donetsk and Lugansk.
Earlier, the government of the Federal Republic of Germany allocated a grant of 45 million euros to the company “Ukrenergo”. The money should be used to restore and protect Ukraine's energy infrastructure, which was damaged as a result of the conflict.