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Cryptocurrency exchange Binance Holdings appealing $6M fine imposed by Fintrac
Binance Holdings Ltd. is appealing a $6-million fine imposed on the company by Fintrac, the federal anti-money laundering agency. In its appeal to the Federal Court, the cryptocurrency exchange company says it does not direct its services at those in Canada and any involvement in the Canadian market is incidental to its global business. Binance says it had sought to develop operations in Canada, but it never came to fruition. The company announced last year that it would withdraw from the Canadian market, citing regulatory concerns. Fintrac said in May that Binance failed to register with the agency as a foreign ... (full story)