Binance is accused of neglecting to register as a foreign money services business by the Financial Transactions and Reports Analysis Centre of Canada.

Additionally, the business thousands of times neglected to disclose significant virtual currency transactions involving C$10,000 or more in a single transaction.

A year ago, Binance left the Canadian market, blaming the country's regulatory framework.

The creator of the massive cryptocurrency company, Changpeng "CZ" Zhao, admitted guilt to breaking anti-money laundering laws and was given a four-month prison sentence last week.

In November, Zhao entered a guilty plea as part of an agreement reached by Binance, the Department of Justice, the Treasury Department, and the CFTC to resolve claims that the exchange had an improper AML scheme in place, was running an unregistered money-transmitting business, and had broken sanctions laws.

The biggest cryptocurrency exchange in the world consented to surrender $2.5 billion to the government and pay a $1.8 billion fine.