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- 2024-06-20
2024-06-20
Fernando Fierro
June 20, 2024
Howdy folks,
⚖️💸 Binance has been hit with a $2.25 million fine in India for breaching anti-money laundering laws. The Financial Intelligence Unit (FIU) found Binance guilty of multiple violations under the Prevention of Money Laundering Act (PMLA) and imposed hefty penalties.
This fine is part of a global trend, following substantial fines in Canada and the U.S., highlighting Binance's ongoing regulatory battles.
In other news:
✅🔍 Ethereum developers at Consensys are celebrating as the SEC has decided to close its investigation into Ethereum's securities status. The closure follows the approval of Ethereum ETFs, reinforcing ETH's classification as a commodity.
However, the SEC has left the door open for future actions, indicating regulatory clarity is still needed in the crypto space.
🕵️♂️🌍 Do Kwon's escape to Montenegro after the Terra-Luna crash is under scrutiny due to revelations about the Montenegrin PM's early investment in Terraform Labs. The SEC documents suggest deeper connections, raising questions about potential complicity.
This adds another layer to the ongoing saga of one of crypto’s most infamous figures.
🚫🇺🇸 Binance.US faces another setback as North Dakota revokes its money transmitter license. The state cited non-compliance with local regulations and the recent conviction of Binance's founder.
This move adds to Binance.US's growing list of regulatory challenges across multiple states, impacting its operations nationwide.
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