Results For: binance
Binance Registers With India’s Financial Intelligence Unit
The world’s largest crypto exchange, Binance, and its rival, KuCoin, have been registered with India’s Financial Intelligence Unit (FIU). This marks the first time that offshore crypto-related entities have been approved by India’s anti-money laundering unit. Key points: The registration of Binance and KuCoin with the FIU is a significant milestone for India’s crypto industry. …...
Binance Slapped with $4.3 Million Penalty by Canadian Regulator
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a substantial administrative monetary penalty on Binance. On May 7, 2024, FINTRAC issued a penalty of $4.3 million for Binance’s non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. Key points: Also read: Consensys CEO Joseph …...
Binance Fires Employee Who Discovered Evidence of DWF Labs Market Manipulation
The Wall Street Journal has reported that cryptocurrency exchange Binance fired a member of its market surveillance team who had uncovered evidence of market manipulation by DWF Labs, a high-profile client. Key points: According to interviews with current and former Binance employees, documents, emails, and other industry participants, the market surveillance team had been tasked …...
Former Binance CEO Changpeng Zhao Pens Apology Letter to U.S. Judge
In a letter addressed to U.S. District Judge Richard A. Jones of the Western District of Washington, Changpeng Zhao, the former CEO of Binance apologized for his “poor decisions” and accepted full responsibility for his actions. The letter, filed on Tuesday, comes as Zhao awaits sentencing for his role in enabling Binance to violate federal …...
Central Bank of Nigeria To Freeze Bank Accounts Linked With Binance, Bybit, KuCoin
The Central Bank of Nigeria (CBN) has issued a new directive requiring all banks and financial institutions in the country to identify individuals or entities engaging in transactions with cryptocurrency exchanges. The circular also requires the bank to place their accounts under a Post No Debit (PND) instruction for a period of six months.  Key …...
Binance Founder Changpeng Zhao Should Face 3-Year Prison Sentence: DOJ
The U.S. Department of Justice (DOJ) has recommended that Changpeng “CZ” Zhao, the founder and former CEO of Binance, spend three years in prison. The DOJ recommended a 3-year prison sentence for Zhao due to his role in enabling the cryptocurrency exchange to violate federal sanctions and money laundering laws. In a sentencing memo filed …...
Nigerian Court Adjourns Binance Tax Evasion Trial to May 17
A Nigerian court has adjourned the tax evasion trial against cryptocurrency exchange Binance and two of its executives until May 17. BusinessDay, a local news platform, reports that the decision followed a procedural standoff because the exchange has not yet received formal charges. The absence of one executive and the ongoing detention of another have …...
Binance Set to Re-Enter India After Paying $2 Million Penalty: Report
Binance, the world’s largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange …...
Binance is Considering Multiple Jurisdictions for Headquarters: CEO
Binance, the world’s largest cryptocurrency exchange, is currently in discussions with several jurisdictions regarding the selection of its official headquarters, according to CEO Richard Teng. During a fireside discussion at Paris Blockchain Week, Teng emphasized that the decision-making process is complex and involves a multitude of factors that must be carefully considered. Key points: Teng …...
Binance Executive Pleads Not Guilty to Money Laundering Charges
Tigran Gambaryan, a Binance executive who was detained by Nigerian authorities alongside his colleague Nadeem Anjarwalla, pleaded not guilty to money laundering charges at a high court on Monday. Local reports state that Gambaryan, the head of Binance’s financial crime compliance, is on remand until trial, with the option to request bail until April 18. …...
