The US government has said the Binance crypto exchange allowed ISIS, Al Qaeda, and Hamas transactions, alleging Binance Holdings Ltd. had such lax controls over cryptocurrency that illegal activity flourished. According to US prosecutors, Binance Holdings Ltd. had such easygoing compliance measures that terrorist groups were able to exploit the platform. The US said Binance's shortcomings led to numerous illegal transactions, including those linked to sanctioned entities. According to a Treasury Department press release, the crypto exchange facilitated these transactions due to inadequate oversight. Binance has reached a settlement with US regulators to pay out over $4 billion after admitting to serious compliance failures. FinCEN’s historic $3.4 billion settlement is the largest penalty in U.S. Treasury and Fincen history. Binance admits that it willfully operated as an unregistered money services business (MSB) while obscuring its ties to the U.S. and maintaining its most commercially important U.S. customers. Binance admits that it Ver más, signaling a major shift in the cryptocurrency landscape and increased regulatory scrutiny. The US government has allegedly linked Binance, one of the largest crypto exchanges, to these activities, highlighting the critical need for robust anti-money laundering (AML) measures within the industry. This settlement and the accusations surrounding it underscore the severity of failing to implement proper controls and the potential consequences for facilitating illicit finance.