According to a recent report by Forbes, Checkout.com, the London-based credit card processing company, has terminated its contract with the largest crypto exchange in the world, Binance, citing concerns over money laundering and compliance issues.
The decision was conveyed through a series of letters sent by Checkout CEO Guillaume Pousaz on August 9 and 11.
The letters referenced reports of regulatory actions and orders in relevant jurisdictions and inquiries from partners. The second letter sent two days after the first, highlighted additional concerns related to Binance’s anti-money laundering (AML), sanctions, and compliance controls. The termination of the contract became effective on August 17.
Binance Considers Legal Action As Checkout.com Terminates Contract
According to the report, Checkout.com’s decision to terminate its association with Binance comes in the wake of Binance’s recent announcement regarding…
