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Violation Tracker Individual Record

Company: Binance Holdings Limited
Current Parent Company: Binance Holdings
Penalty: $4,316,126,163
Year: 2023
Date: November 21, 2023
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Secondary Offense: economic sanction violation
Mega-Scandal: Cryptocurrency
Violation Description: Binance Holdings Limited, the entity that operates the world's largest cryptocurrency exchange, Binance.com, pleaded guilty and agreed to pay over $4 billion to resolve the Justice Department's investigation into violations related to the Bank Secrecy Act (BSA), failure to register as a money transmitting business, and the International Emergency Economic Powers Act (IEEPA). As part of the plea agreement, Binance agreed to forfeit $2,510,650,588 and to pay a criminal fine of $1,805,475,575 for a total financial penalty of $4,316,126,163. Binance also agreed to retain an independent compliance monitor for three years and remediate and enhance their anti-money laundering and sanctions compliance programs.
Level of Government: federal
Action Type: agency action
Agency: Justice Department National Security Division
Civil or Criminal Case: civil and criminal
HQ Country of Current Parent: Malta
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: cryptocurrency exchange
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.