On Tuesday November 21, 2023, FinCEN announced the largest settlement in U.S. Treasury Department History with virtual currency exchanger Binance Holdings Ltd. Binance, the largest virtual currency exchanger in the world, must pay approximately $4.3 billion in total to resolve violations of the Bank Secrecy Act (BSA), failing to register as a money transmitter, and sanctions violations. The settlement with FinCEN is part of a coordinated effort with OFAC, the U.S. Commodity Futures Trading Commission […]
