RegAlert2023-11-21 | 2023-04Added · Updated
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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UNITED STATES OF AMERICA
FINANCIAL CRIMES ENFORCEMENT NETWORK
DEPARTMENT OF THE TREASURY
IN THE MATTER OF: )
) Number 2023-04
Binance Holdings Limited, )
Binance (Services) Holdings Limited, )
Binance Holdings (IE) Limited, ) d/b/a Binance and Binance.com ) CONSENT ORDER IMPOSING CIVIL MONEY PENALTY The Financial Crimes Enforcement Network (FinCEN) has conducted a civil enforcement investigation and determined that grounds exist to impose a Civil Money Penalty on Binance Holdings Limited, Binance (Services) Holdings Limited, and Binance Holdings (IE) Limited, collectively doing business as Binance and Binance.com1 for violations of the Bank Secrecy Act (BSA) and its implementing regulations.2 Binance admits only to the facts admitted in the November 21, 2023 Plea Agreement of Binance Holdings Limited with the United States Department of Justice (DOJ) for conduct from August 2017 through October 2022 and neither admits nor denies the remainder of the facts set forth herein. Binance consents to the issuance of
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Lineage: In force
Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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FINCEN published 7 documents in the last 30 days. We email you each new one the day it's published.