Blockchain
Multiple US States Have Revoked Binance US Crypto Licenses
Multiple U.S. states have revoked or declined to renew Binance US’s money transmitter licenses due to compliance issues and legal troubles involving former CEO Changpeng Zhao (CZ). According to North Dakota’s financial regulator, “North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon in taking similar actions to revoke or deny the renewal of BAM Trading Services’ Money Transmission License.”
Binance US Faces Increasing State-Level License Revocations
An increasing number of U.S. states have revoked or declined to renew the money transmitter licenses of BAM Trading Services Inc., operating as Binance US, due to compliance issues and legal troubles tied to former CEO Changpeng Zhao (CZ).
The latest revocation comes from the North Dakota Department of Financial Institutions, which announced on Monday:
“The Commissioner has found that BAM Trading Services, Inc. has failed to comply with North Dakota laws. Additionally, majority beneficial owner and control person, Changpeng Zhao, has pled guilty to felony charges for violating U.S. anti-money laundering laws.”
Zhao is currently serving a four-month prison sentence following a settlement between Binance and the U.S. Department of Justice (DOJ). He pleaded guilty to violating the Bank Secrecy Act, and Binance agreed to pay $4.3 billion in penalties and fines. Initially, the DOJ had sought a three-year prison term for Zhao.
North Dakota’s financial regulator explained:
“Money transmission activity includes receiving money or cryptocurrency to send to a location within or outside the United States on another person’s behalf. To lawfully engage in the business of money transmission, a license is required under North Dakota Century Code Chapter 13-09.1.”
Several other states have also taken regulatory actions against Binance US for compliance issues. Florida suspended Binance US’s license in November last year, shortly after Zhao’s guilty plea for violating U.S. anti-money laundering laws. Earlier this year, Alaska declined to renew the crypto exchange’s license, followed by North Carolina suspending it on January 23, and Maine declining renewal on January 29. Connecticut suspended Binance US’s license on April 24, and Oregon revoked it on April 30.
Source: news.bitcoin.com
The post Multiple US States Have Revoked Binance US Crypto Licenses appeared first on HIPTHER Alerts.
Finfare Connect, a market-leading rewards platform empowering businesses to engage and retain customers through personalized offers, has announced an innovative collaboration with ZBD, a leading payments company at the forefront of digital economies.
Finfare Connect is a part of Finfare Inc., a thriving fintech company with offices in Irvine, California and London.
Through this strategic alliance, Finfare will provide ZBD users with access to affiliate, card-linked, and instant cashback offers, enabling them to earn Bitcoin through everyday purchases, above and beyond those already earned via the ZBD app.
Beginning today, ZBD users will have the option to link their payment card or multiple payment accounts to start automatically earning rewards while shopping online or at in-person stores. Card linking involves connecting a single payment card, while account linking occurs when a user connects multiple bank accounts to earn highly customized rewards.
In terms of rewards, ZBD users who sign up for the program will have access to offers from thousands of well-known brands such as Nike, Adidas, Asics, Crocs, Tommy Hilfiger, Urban Outfitters, Cole Haan, Steve Madden; and popular retailers such as Nordstrom, Brookstone and Best Buy, among many others.
ZBD’s innovative app immerses users in a world of games and apps, allowing them to earn Bitcoin while enjoying diverse entertainment experiences.
Now, US-based ZBD users will be able to seamlessly earn Bitcoin through their everyday purchases simply by linking their payment accounts via the ZBD app. Then, they will automatically earn Bitcoin whenever they purchase an item that’s promoted by FinFare.
“We are thrilled to launch this exciting offering with ZBD,” said Alan Zrado, Executive Vice President, Finfare Connect. “Through this alliance, we are enhancing the way ZBD users engage with digital payments, offering them unparalleled opportunities to earn Bitcoin through their everyday transactions. This partnership also underscores our commitment to empowering businesses by providing their customers with compelling, customized, and valued rewards.”
“We are excited to join forces with Finfare Connect to give ZBD users greater value by giving them more ways to easily earn Bitcoin rewards,” said Ben Cousens, Chief Strategy Officer of ZBD. “By combining Finfare Connect’s expertise in personalized offers with ZBD’s cutting-edge payments technology, we are providing our users with a great way to earn Bitcoin by shopping as they normally would anyway.”
The post ZBD and Finfare partner to offer gamers cash rewards for their everyday purchases! appeared first on HIPTHER Alerts.
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