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BIT Mining to pay $10M fine for bribing Japanese politicians in former life
19.11.2024
BIT Mining, previously known as online sports casino 500.com, made around $2.5 million worth of bribes to Japanese officials between 2017 and 2019
Whatsapp Warns It May Leave Nigeria Over Order to Pay a $220 Million Fine
3.8.2024
Whatsapp, the social media platform owned by Meta Inc., has stated that it would be impossible to comply with additional demands from Nigeria’s consumer protection agency. The social media platform argues that the Nigerian agency’s order compelling it to pay a $220 million fine contains multiple...
Binance Slapped With $4.3 Million Fine By Canada’s FINTRAC
9.5.2024
Crypto exchange Binance is facing a $4.3 million USD fine by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for violating terrorist financing and money laundering laws, the Canadian regulator announced Thursday. News of the fine comes just over a week after former...
Razer’s Pricey Covid Mask Is Costing Them $1 Million In Refunds
29.4.2024
In 2021, video game accessory manufacturer Razer announced its plans to release a mask that people could wear to help stop the spread of covid-19 during the height of the (ongoing) pandemic. Now, almost three years later, the company owes the Federal Trade Commission over $1 million in fines due...
Binance Set to Re-Enter Indian Market With $2 Million Fine Settlement
18.4.2024
Binance and nine other foreign crypto exchanges were originally blocked in India due to non-compliance with the country’s Anti-Money Laundering (AML) regulations, but Binance is set to return after a four-month absence by paying a $2-million fine, according to The Economic Times. The Indian...
Genesis Agrees to Pay $21M Fine to Settle SEC Crypto Lending Charges
19.3.2024
Bankrupt cryptocurrency lender Genesis Global Capital has agreed to pay a $21 million fine as part of a final court judgement to settle charges with the U.S. Securities and Exchange Commission (SEC). In an official ruling released on March 19, the SEC highlighted the reason for the penalty...
Judge Approves Settlement: Binance to Pay $1.5 Billion to CFTC, CZ to Pay $150 Million Fine
19.12.2023
Source: Pixabay In a significant legal development, Judge Manish Shah of the U.S. District Court for the Northern District of Illinois has issued a verdict ordering cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay a staggering $2.85 billion to...
KuCoin to Shutter Services in New York After $22 Million Settlement Package – Here’s the Latest
12.12.2023
Source: Pexels The KuCoin crypto exchange is set to shutter its operations in the ‘Big Apple’ following an agreement with the Supreme Court of the State of New York County. Besides restricting access to its platform for New York residents, KuCoin has agreed to pay a $5.3 million fine...
Matrixport: Binance Plea Deal Boosts Approval Odds for Bitcoin Spot ETF
22.11.2023
Source: AdobeStock / JorgeEduardo Binance CEO Changpeng Zhao has entered a guilty plea, agreeing to a $50 million fine, while Binance itself is set to pay a $4.3 billion penalty. CZ’s sentencing hearing is scheduled for February 23, 2024, where he may face prison time of up to 18 months. This comes...
Titan Global Capital Management Settles with the SEC, Agrees to $1 Million Fine for Misleading Crypto Fund Claims
23.8.2023
The New York-based fintech investment adviser, Titan Global Capital Management, has agreed to comply with the US Securities and Exchange Commission's (SEC) cease-and-desist order and paid fines exceeding $1 million for misleading investors about its cryptocurrency offering....
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SEC’s Crypto Compliance by Enforcement Push Continues as Bittrex Hit With $24 Million Fine
10.8.2023
The US Securities and Exchange Commission (SEC)’s push to force the crypto industry into “regulatory compliance” via enforcement action continues, with bankrupt crypto exchange Bittrex the latest to fall foul of the agency.
Bittrex just agreed to pay a $24 million fine to the SEC, after the agency...
Ex-Trader Ackerman Ordered to Pay $54 Million Fine for Crypto Fraud
29.6.2023
The former New York Stock Exchange broker Micahel Ackerman has been ordered to pay $54 million in penalties by a federal court for running a crypto fraud, as per a release from the Commodity Futures Trading Commission (CFTC).
A judge at the Southern District of New York court has banned Ackerman...
Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations
4.1.2023
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s...
CFTC slaps Tether and Bitfinex with a combined $42.5 million fine
15.10.2021
The settlement triggered concerns that the CFTC's role in stablecoin regulation could be misunderstood by the public
Canadian Bitcoin Mine Operator Facing $7 Million Fine for Setting Up Power Plants Without Permission
4.10.2021
Link Global, a bitcoin mine operator in Canada, is facing a fine of up to $7 million for installing power plants to run its miners without government permission. The company installed several power plants without following legal procedures and alleges that, if the penalty is enforced, it will...
Microsoft Settles Bribery Charges in Hungary with $25 Million Fine to Federal Government
23.7.2019
When it comes to some of the biggest companies in the world and their quest to expand into new markets, then there is always a possibility of resorting to unfair means. It can especially crop up if a country is trying to expand into new countries and having very little idea about the ways...