Token

United

North Dakota’s financial regulator has revoked the money transmitter license for <a href="https://www.binance.com/en" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Binance</a>’s United States arm, Binance.US, marking it the seventh state to do so.
On June 17, Lise Kruse, Commissioner of the North Dakota Department of Financial Institutions (DFI), announced that BAM Trading Services, operating as Binance.US, failed to comply with state money transmitter laws.
The revocation order cited Binance and its founder Changpeng Zhao’s federal conviction in November for conspiracy to operate an unlicensed money-transmitting business and failure to maintain an effective anti-money laundering program as reasons for the license revocation.
Kruse noted that Zhao, the “majority beneficial owner and control person” of Binance, was recently convicted on felony charges for violating federal anti-money laundering laws.
“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.
Binance.US has 30 days to request a reversal of the order, with the deadline being July 17, 2024.
READ MORE: <a href="https://www.cryptointelligence.co.uk/trump-linked-memecoins-plummet-over-30-amid-rumors-of-official-djt-token-launch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump-Linked Memecoins Plummet Over 30% Amid Rumors of Official DJT Token Launch</a>
If no request is made, the order will become effective.
North Dakota is now the seventh state to revoke or deny the renewal of a money transmission license requested by BAM Trading Services.
Similar actions have been taken by Alaska, Florida, Maine, North Carolina, and Oregon in recent months.
Florida was the first state to cease Binance.US’s services in November, following Zhao’s guilty plea. North Carolina and Maine followed suit on January 23 and January 29, respectively.
Furthermore, Binance.US has not received licenses in New York, Texas, Vermont, and Hawaii.
According to the Binance.US website, new user onboarding has also been temporarily paused in Connecticut, Georgia, Ohio, Minnesota, and Washington state.
To submit a <a href="https://www.cryptointelligence.co.uk/category/press-releases/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto press release (PR)</a>, send an email to <a href="mailto:sales@cryptointelligence.co.uk" rel="noopener noreferrer nofollow">sales@cryptointelligence.co.uk</a>.

North Dakota Revokes Binance.US License, Seventh State to Take Action

Crypto Intelligence

Інші статті, опубліковані 20 черв. 2024 р.

2024’s Top Crypto Moves: BlockDAG’s $52M Presale, Fantom’s Bull Run, And Ethereum’s Price Spike

XRP Poised for Resurgence: Sustaining Above $0.46 Key to Near-Term Gains

Latest Airdrops: July 2024 - Claim Your Free Crypto Today!

MoonBag Enlivens Portfolios as the Best Crypto Presale in June 2024 as BlastUP and Kangamoon Scra...

Bitcoin (BTC) Price Prediction for June 20

Bitcoin’s move to $70k: $1.84B at risk as short sellers watch BTC closely

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!