The Canadian Anti-Money Laundering Agency fined Binance approximately 6 million Canadian dollars (4.38 million dollars). The cryptocurrency exchange giant is accused of violating the country's laws on money laundering and terrorist financing.

Le Centre d' analyse des transactions et déclarations financières du Canada A d& stated on Thursday that Binance had failed to register as a foreign money services business with the intelligence agency despite several delays. According to the information, the Canadian Anti-Money Laundering Agency added that Binance, which stopped operating in Canada last year, did not report receiving virtual currency worth CA$10,000 or more 5,902 times between June 1, 2021 and July 19, 2023.