North Dakota latest US state to revoke Binance.US license
North Dakota’s Department of Financial Institutions Commissioner pointed to Binance’s money transmitter and AML convictions to make its case.
North 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.
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Author: Brayden Lindrea
