Binance Appeals Against $4.3M Penalty Imposed by Canada Regulator: https://yakihonne.s3.ap-east-1.amazonaws.com/953281df0361f1a7ff836841c2b978b8d606b035e7d07b8d148c72e50b4d78a7/files/1718877472750-YAKIHONNES3.jpg 
Binance is contesting a $4.3m fine levied by Canada’s financial intelligence agency, FINTRAC.

The exchange argued in its court appeal that it doesn’t target Canadian customers. It also claimed its Canadian activity is just a byproduct of its international operations, the Canadian Press reported June 19.

Binance says it previously attempted to establish a Canadian presence, but those plans fell through. In May 2023, it pulled out of the Canadian market altogether, citing new regulations around stablecoins and investor restrictions that made operating there unfeasible. 

 jdbd 

 Cryptocurrency exchange Binance has filed an appeal against a $4.3 million fine imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in May. The fine was imposed on Binance for failing to comply with anti-money laundering (AML) and Countering the Financing of Terrorism (CFT) regulations