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Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department (www.businessinsider.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::"Can barely buy an AK-47 with 600 bucks," a Binance compliance staffer told his boss in 2019, per regulators.

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[–] swearengen@sopuli.xyz 4 points 11 months ago* (last edited 11 months ago) (1 children)

I traded on Binance back when they let anyone on. It was wild you could just deposit your crypto and go nuts. No docs needed and limits were very high before any type of verification kicked in so I'm not surprised it was abused.

[–] JJROKCZ@lemmy.world 6 points 11 months ago

That’s the way currency exchange should be