Binance has faced regulatory challenges in several countries between 2023 and 2024, including Australia, Belgium, Canada, India, Nigeria, and the US.
In the US, Binance settled with the government for $4.3bn over accusations of violating AML laws and operating without registration.
US prosecutors criticised Binance for its lax approach to illegal activities, including failing to report over 100,000 suspicious transactions.
This month, the US Supreme Court allowed a lawsuit against Binance involving investors who claim the exchange sold unregistered tokens that subsequently plummeted in value.
Additionally, in last month, Australia’s corporate watchdog sued Binance’s local derivatives business for allegedly misclassifying retail customers as wholesale clients, depriving them of consumer protections.
