In a recent enforcement action that highlights ongoing regulatory challenges for crypto exchanges, Binance has been fined C$6 million ($4.3 million) for breaches of the nation’s financial regulations. FINTRAC, tasked with overseeing compliance within the financial sector, cited Binance for failing to register as a foreign money services business and neglecting to report nearly 6,000 cryptocurrency transactions valued over $10,000, along with their associated know-your-customer (KYC) information.