OFR Reaches Agreement with BAM Trading Services Inc Doing Business as Binance.US
Summary
The Florida Office of Financial Regulation announced an agreement with BAM Trading Services, Inc., doing business as Binance.US, a cryptocurrency exchange licensed in Florida as a money transmitter. The agreement follows multi-state settlements stemming from Changpeng Zhao's 2023 felony conviction, though Zhao has since been pardoned by President Trump. Under the agreement, BAM Trading Services commits to following implemented procedures to protect Floridians and maintain marketplace integrity.
What changed
The Florida Office of Financial Regulation announced a settlement agreement with BAM Trading Services, Inc. (Binance.US), a cryptocurrency exchange registered as a money transmitter in Florida. The agreement is part of broader multi-state settlements arising from Changpeng Zhao's 2023 felony conviction, despite his subsequent presidential pardon. The agreement does not impose monetary penalties but requires BAM Trading Services to adhere to its existing compliance procedures.
For Florida consumers and businesses using cryptocurrency exchanges, this agreement signals continued regulatory oversight of money transmitters operating in the state. The announcement serves as informational notice of regulatory engagement rather than creating new compliance obligations. Floridians with concerns about financial business practices are encouraged to file complaints through the OFR website or phone line.
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
OFR Enters into Agreement with BAM Trading Services, Inc.
11/04/2025
Tallahassee, Fla. — Today, the Office of Financial Regulation announced that an agreement was reached with BAM Trading Services, Inc., doing business as Binance.US, a cryptocurrency exchange currently licensed in Florida as a money transmitter.
This year, BAM Trading Services, Inc., has entered into agreements with several states including a multi-state settlement agreement due to Changpeng Zhao’s 2023 felony conviction, who has since been pardoned by President Trump.
Importantly, in the agreement with the OFR, BAM Trading Services, Inc., has agreed to follow its implemented procedures which will protect Floridians and the integrity of the marketplace.
Floridians who suspect questionable financial business practices are encouraged to file a complaint online at www.flofr.gov, or by calling (850) 487-9687.
)
Related changes
Get daily alerts for FL Securities Regulator
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from FL OFR.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when FL Securities Regulator publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.