Cryptocurrency exchange Binance failed to report more than C$554 million worth of financial transactions to the Canadian government, court filings reveal, including nearly $300 million transferred to just three accounts over the span of roughly two years. 

Canada’s anti-money laundering watchdog hit Binance with a $6 million penalty last year, saying the company didn’t report about 5,900 large cryptocurrency transactions, creating a blind spot in Canada’s fight against financial crime.