Wednesday, May 28, 2025 - 01:00 am
Categories:
Order
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.