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May 10, 2024

Binance Slapped With C$6 Million Fine in Canada for Non-Compliance

In a significant development for the cryptocurrency industry, the Canadian government has imposed a hefty C$6 million fine on Binance, one of the world's largest crypto exchanges, for violating the nation's financial regulations. The penalty, handed down by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), highlights the ongoing challenges faced by crypto exchanges in meeting regulatory requirements.