The Binance Saga: A Chronological Account182

Binance, the world's largest cryptocurrency exchange, has been embroiled in a series of controversies and regulatory investigations in recent months. Here is a chronological account of the key events in the Binance saga:

2022

May: Binance is fined $1.5 million by the Netherlands central bank for failing to register as a cryptocurrency service provider.

June: Binance is fined $3 million by the United Kingdom's Financial Conduct Authority (FCA) for failing to comply with anti-money laundering regulations.

July: Binance is banned from operating in Ontario, Canada, by the Ontario Securities Commission (OSC).

September: Binance is fined $2.3 million by the U.S. Securities and Exchange Commission (SEC) for failing to register its Binance Coin (BNB) offering as a security.

October: Binance is fined $5 million by the U.S. Commodity Futures Trading Commission (CFTC) for operating an unregistered futures exchange.

2023

January: Binance is sued by the Washington State Department of Financial Institutions for allegedly violating the state's money transmitter laws.

February: Binance is raided by the Italian Guardia di Finanza on suspicion of money laundering.

March: Binance announces that it will suspend U.S. dollar withdrawals due to a "regulatory matter."

April: Binance announces that it will delist BUSD, the third-largest stablecoin, due to regulatory concerns.

May: Binance is investigated by the U.S. Department of Justice on suspicion of money laundering and sanctions violations.

June: Binance announces that it will close its futures and options trading services in the United States.

July: Binance is fined $10 million by the New York State Department of Financial Services (DFS) for failing to comply with anti-money laundering regulations.

The Binance saga is still ongoing, and it is unclear how the exchange will resolve the various regulatory investigations and enforcement actions that it is facing. However, the events of the past year have raised serious concerns about Binance's compliance with financial regulations and its ability to operate in major markets.

2024-12-23

Previous：Top Wallets for Securely Storing AVAX Tokens

Next：Ripple Revolutionizing Cross-Border Payments: A Game-Changer in Global Finance