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Details: ht
A certain trading platform does not recognize the Canadian FINTRAC penalty and has officially filed an appeal.
[Chain News] PANews, September 25 - A certain trading platform stated in its official blog: "The certain trading platform has received a decision from the Director of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which maintains the violation notice issued on March 31, 2025. Although the certain trading platform respects the decision-making process and has always been committed to complying with regulatory requirements and maintaining transparency, the certain trading platform does not agree with the determination that it is a foreign currency service business, nor does it recognize the imposed penalties. The certain trading platform believes that the penalties are excessive and punitive in nature, and has exercised its legal rights to formally appeal to the Federal Court of Canada on substantive and procedural grounds." Previously, it was reported that the Canadian anti-money laundering agency imposed a fine of approximately $14.09 million on the parent company of the certain trading platform.