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The Commissioner of the North Dakota Department of Financial Institutions has entered into a Consent Order with BAM Trading Services, Inc. doing business as Binance.US (“Binance”).  Money transmission activity includes receiving money or crypto currency 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. 

Under the Consent Order Binance will cease engaging in the business of money transmission in North Dakota and its license will be terminated.

A copy of the order can be found here. 

The North Dakota Department of Financial Institutions is proud to announce that the Litchville-Marion High School LifeSmarts team (known as the “Money Hounds”) has achieved an outstanding second-place finish at the National LifeSmarts Competition held this past weekend in Chicago, Illinois. This remarkable achievement reflects the hard work, dedication, and academic excellence of the students, coaches, and school community. 

BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) has issued a cease and desist order against Bankers Healthcare Group LLC doing business as BHG Financial LLC (BHG) for conducting unlicensed activities in the state, engaging in deceptive practices in interactions with customers, and other activity contrary to North Dakota Century Code chapter 13-04.1. DFI also has imposed civil money penalties against the company and denied its money broker license application.

A copy of the order can be found here. 

BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) has reached a final agreement with money transmitter Sigue Corp. for failing to fulfill its obligations to customers during its collapse last year. 

A copy of the order can be found here. 

Jan Murtha appointed deputy of non-depositories at North Dakota Department of Financial Institutions

BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) is pleased to announce the appointment of Jan Murtha as the deputy of non-depositories, effective today, Feb. 3.