Regulatory Alerts2023-11-21 | 2023-04Added
Consent Order Imposing Civil Money Penalty on Binance Holdings Limited et al.
FinCEN imposes a civil money penalty on Binance Holdings Limited, Binance (Services) Holdings Limited, and Binance Holdings (IE) Limited for violations of the Bank Secrecy Act and its implementing regulations. The entities consent to the penalty and agree to comply with Undertakings and Monitor requirements regarding their operation of the Binance.com convertible virtual currency exchange. The order addresses failures to register as a money services business, maintain an effective Anti-Money Laundering program, and file Suspicious Activity Reports for transactions involving U.S. customers.
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