Fun

North Dakota latest US state to revoke Binance.US license

News Feed - 2024-06-19 01:06:18

Brayden Lindrea4 hours agoNorth Dakota latest US state to revoke Binance.US licenseNorth Dakota’s Department of Financial Institutions Commissioner pointed to Binance’s money transmitter and AML convictions to make its case.813 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksNorth Dakota’s financial regulator has revoked a money transmitter license for Binance’s United States arm, Binance.US — making it the seventh state to do so.


North Dakota Department of Financial Institutions (DFI) Commissioner Lise Kruse said on June 17 that BAM Trading Services — conducting business as Binance.US — failed to comply with the state’s money transmitter laws.


A revocation order notes Binance and founder Changpeng Zhao’s November federal conviction for conspiracy to conduct an unlicensed money-transmitting business and a failure to maintain an effective anti-money laundering program as reasons to pull the license.


Binance’s “majority beneficial owner and control person,” Zhao, was recently convicted on felony charges for violating federal anti-money laundering laws, Kruse added.


“The Commissioner finds the Respondent does not continue to meet the qualifications or satisfy requirements that may apply to an applicant for a new money transmitter license,” the revocation order states.Order For Revocation and Notice of Right to Request Hearing by North Dakota’s DFI. Source: North Dakota DFI


Binance.US may make a request to reverse the order within 30 days, which would cease on July 17, 2024.


The order will become effective if no request is made by then.


North Dakota is the seventh state to revoke or deny the renewal of a money transmission licencerequested by BAM Trading Services.


Alaska, Florida, Maine, North Carolina, and Oregon have taken similar actions in recent months.


Related:Former NY Fed chief joins Binance.US board


Floridawas the first state to cease Binance.US’ services in November, shortly after Zhao pleaded guilty.


North Carolina and Maine were the next U.S. states to follow suit on Jan. 23 and Jan. 29.


Binance.US never received licenses in New York, Texas, Vermont and Hawaii.


New user onboarding has also temporarily been paused in Connecticut, Georgia, Ohio, Minnesota and Washington state, according to the Binance.US website.


Magazine:US and China try to crush Binance, SBF’s $40M bribe claim: Asia Express# Business# Cryptocurrency Exchange# Money Transfers# Money Laundering# RegulationAdd reaction

News Feed

Coinbase to move customer and corporate USDC balances to Base
Brayden Lindrea8 hours agoCoinbase to move customer and corporate USDC balances to BaseCoinbase’s move on-chain will carve a path toward a future on-chain financial system, claimed Bankless podcast co-host David Hoffma
6 AI applications already changing the healthcare industry
Shiraz Jagati13 hours ago6 AI applications already changing the healthcare industryAI is accelerating scientific breakthroughs and improving research outcomes. Here are eight projects harnessing its power to improve huma
VaultSwap Announces Its Token Sales and Exchange Listings
VaultSwap Announces Its Token Sales and Exchange Listings PRESS RELEASE. Swapping cryptos on an exchange can be incredibly inefficient, as no exchange has all th
Tristan Greene3 hours agoOpenAI launches ‘custom instructions’ for ChatGPT so users don’t have to repeat themselves in every promptThe new feature is now available in beta for Plus users outside the EU and U.K., wi
Attacker Hacks Arbitrum’s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit
Attacker Hacks Arbitrum"s Treasure DAO for Over 100 NFTs by Leveraging Marketplace Exploit A non-fungible token market platform built on top of Arbitrum called Treasure DAO was hac
Canada needs to overhaul crypto regulations — Coinbase exec
Vince Quill6 hours agoCanada needs to overhaul crypto regulations — Coinbase execThe Canadian government has previously come under fire for undermining the economic freedom of its citizens and freezing crypto donations
Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status
Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status Former Assistant Secretary for Public Affairs for the U.S. Departmen
Altcoin Transaction King? TRON Hits 42% Share As USDT, DeFi Explode
Este artículo también está disponible en español. Tron (TRX) is demonstrating its status as a dominant force in the realm of altcoin transactions. The network has establi
Tristan Greene3 hours agoElon Musk’s lawyers respond to motion to kick Tesla team off Dogecoin case: ‘Waste of this court’s time’The strongly worded legal filing comes in response to an attempt to have Tesla’s
Derek Andersen2 hours agoExchanges federation touts crypto trading regulation, integration with TradFiThe World Federation of Exchanges, whose members handled $140 trillion in trades in 2022, has some concerns as its mem
Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing
Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing Janet Yellen, Joe Biden’s pick for the Treasury Secretar
Turkish Misyon Bank moves into digital assets with Taurus
Helen Partz12 hours agoTurkish Misyon Bank moves into digital assets with TaurusCredit Suisse-backed Taurus will provide the Turkish neobank Misyon with tools to enable digital asset custody and tokenization services.124