North Dakota Revokes Binance.US License
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North Dakota's financial regulator has revoked the money transmitter license of Binance.US, the US branch of Binance. North Dakota thus becomes the seventh state to take such action.

The state's Department of Financial Institutions Commissioner Lise Kruse declared on June 17 that Binance.US, operated by BAM Trading Services, was not in compliance with the state's money transmitter laws.

The order to revoke the license cited the fact that Binance and its founder, Changpeng Zhao, were convicted in November of conspiring to operate an unlicensed money transmission business and failing to maintain an effective anti-money laundering program.

Kruse also mentioned that Zhao, who is the majority shareholder and controller of Binance, was recently convicted of federal crimes related to anti-money laundering laws.

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