Large offshore exchange, not open to US residents. In 2023 Binance Holdings Limited pleaded guilty in the US to anti-money-laundering, unlicensed money transmission and sanctions violations and agreed to pay over $4.3 billion, alongside FinCEN, OFAC and CFTC settlements. Canada's FINTRAC fined it C$6 million in 2024; it has appealed.
Watch out for Pleaded guilty to US money-laundering charges
Founded 2017
US exchange run by BAM Trading Services, Binance's US affiliate. Oregon revoked its money transmitter licence in 2024 after the US conviction of Binance's founder, and in 2025 Connecticut fined it $60,000 as it gave up its licence there.
Founded 2019 · Miami, Florida
Exchange for spot and perpetual futures trading, including futures on stocks, indices and commodities. In 2023 Malaysia's Securities Commission added BingX to its investor alert list.
Long-running exchange run by the same group as Tether, the issuer of USDT. In 2021 its operator, iFinex, agreed to pay $18.5 million to the New York Attorney General, who found false statements about tether's backing, and the CFTC fined Bitfinex entities $1.5 million.
Japanese exchange, with a US arm, bitFlyer USA. In 2018 Japan's Kanto Local Finance Bureau ordered it to improve its business operations after inspections found it had no effective management structure, and in 2023 New York's Department of Financial Services fined bitFlyer USA $1.2 million for cybersecurity failures.
Offshore exchange known for derivatives and copy trading.
South Korean exchange trading against the Korean won. In March 2026 South Korea's Financial Intelligence Unit decided a ₩36.8 billion fine on it for anti-money-laundering breaches.
Vienna-founded investing app for crypto, stocks and precious metals. In 2026 Austria's Financial Market Authority fined Bitpanda GmbH €70,000 for breaching the EU's crypto-asset rules on white papers and marketing; at Bitpanda's request the FMA is reviewing whether publishing the penalty was lawful.
Founded 2014
One of the longest-running exchanges in crypto, licensed in the European Union. In 2020 Bitstamp Ltd. paid $120,708 to Texas and $15,500 to Vermont for money transmission without a licence.
Watch out for Owned by Robinhood since 2024, so its terms follow a new parent
Founded 2011 · Luxembourg
Amsterdam-based exchange trading crypto against the euro.
Founded 2018 · Amsterdam, Netherlands
Offshore exchange, not open to US residents. About $1.5 billion was stolen from it in February 2025 in a hack the FBI attributed to North Korea. India's Financial Intelligence Unit fined Bybit Fintech Limited Rs 9.27 crore in 2025 under its anti-money-laundering law, and in 2024 Malaysia's Securities Commission reprimanded it and ordered it to stop serving Malaysia.
Block, Inc.'s US payments app, which also sells bitcoin. In 2025 New York's Department of Financial Services fined Block $40 million over Cash App's anti-money-laundering failures, including its handling of high-risk Bitcoin transactions, and 48 state regulators fined it $80 million for anti-money-laundering violations.
US-listed exchange. Holds customer assets in custody by default. In 2025 the Central Bank of Ireland fined Coinbase Europe Limited €21.46 million for transaction-monitoring failures, which it admitted; in 2023 New York's Department of Financial Services fined Coinbase, Inc. $50 million over anti-money-laundering failings.
Watch out for Its own filing says you would be an unsecured creditor
Founded 2012 · United States
Japanese exchange. After customers' crypto was stolen from it in a 2018 hack, Japan's Kanto Local Finance Bureau ordered it to improve its business management and internal controls.
Founded 2012 · Tokyo, Japan
Exchange and app with its own payment card and its own chain, Cronos. In 2025 Texas fined Foris DAX, Inc. $87,108.63 for unlicensed money transmission, without it admitting or denying.
Investing platform that sells crypto alongside stocks and ETFs. In 2024 its US arm, eToro USA, paid the SEC $1.5 million to settle charges that it ran an unregistered broker and clearing agency for crypto, and cut its US crypto list to Bitcoin, Bitcoin Cash and Ether; it neither admitted nor denied the findings.
Offshore exchange that lists many small and new tokens, formerly Gate.io.
US exchange and custodian, chartered as a New York trust company. In 2024 New York's Department of Financial Services fined Gemini Trust Company $37 million over failures tied to its Earn programme; in 2025 a US court ordered it to pay a $5 million CFTC penalty for misleading statements to the CFTC.
Watch out for Its Earn product froze customer funds for 18 months
Founded 2014 · New York, United States
Exchange formerly called Huobi. In May 2026 the UK froze the assets of its operator, Huobi Global S.A., under its Russia sanctions, citing reasonable grounds to suspect it served the A7 company and Garantex; in 2023 Malaysia's Securities Commission publicly reprimanded Huobi Global for operating there without registration.
Founded 2013
Long-running exchange with a custodial default and its own staking products. In 2023 its operators paid $30 million to settle SEC charges over its US staking programme, without admitting or denying them; in 2022 it paid $362,158.70 to OFAC over apparent Iran sanctions violations; in 2024 an Australian court ordered its local operator, Bit Trade, to pay A$8 million for issuing a margin product unlawfully.
Watch out for The instant-buy screen is far more expensive
Founded 2011 · United States
Exchange operated by Peken Global Limited. It pleaded guilty in the US in 2025 to operating an unlicensed money transmitting business and paid about $297 million, and a 2026 US court order in a CFTC case permanently bars it from letting US traders use the exchange without CFTC registration. Canada's FINTRAC fined it C$19.55 million in 2025; it has appealed.
Watch out for Pleaded guilty in 2025 to unlicensed money transmission
Founded 2017 · Seychelles
Offshore exchange that lists many small and new tokens. In 2026 Dubai's Virtual Assets Regulatory Authority penalised its operator, MX Global LTD, for serving customers in Dubai without a licence from 2022 to April 2026 and onboarding users without the required identity checks.
Large offshore exchange. Its operator, Aux Cayes Fintech Co. Ltd, pleaded guilty in the US in 2025 to operating an unlicensed money transmitting business that served US customers and paid more than $504 million. Malta's FIAU fined its unit OKCoin Europe Limited €1,054,269 in 2025 for anti-money-laundering breaches; the penalty could be appealed.
Online payments company whose app lets US customers buy, sell, hold and send crypto. Its PYUSD stablecoin is issued by Paxos.
Banking and payments app that also lets customers in many countries buy, sell and hold crypto. In 2025 the Bank of Lithuania fined Revolut Bank UAB €3.5 million for breaches of anti-money-laundering law.
Bitcoin-only US brokerage and custodian. Publishes a proof of reserves. In 2025 Texas fined River Financial Inc. $56,544.68 for money transmission without a licence, without it admitting or denying.
Watch out for Bitcoin only, and for US residents only
Founded 2019 · United States
US stock and options brokerage that also sells crypto through its Robinhood Crypto business. Robinhood Crypto, LLC paid a $30 million New York penalty in 2022 for anti-money-laundering and cybersecurity failures, and $3.9 million to California's Attorney General in 2024 over blocked crypto withdrawals from 2018 to 2022.
Bitcoin payments and remittance app built on the Lightning Network.
Watch out for The price you are quoted includes a spread — compare it before a large buy
Founded 2019 · United States
South Korea's largest exchange by trading volume, trading against the Korean won. In November 2025 South Korea's Financial Intelligence Unit decided a ₩35.2 billion fine on its operator, Dunamu, for about 8.6 million anti-money-laundering violations, open to Dunamu's response before it became final.
Platform for buying, selling and holding crypto, stablecoins and precious metals. In 2023 it paid $72,230 to settle 152 apparent violations of US sanctions on Iran, Cuba and Venezuela with the US Treasury's OFAC, which called them non-egregious and voluntarily disclosed.
Custodial peer-to-peer Monero marketplace. Trades settle through escrow the platform holds, not on-chain multisig.
Watch out for The platform holds your XMR. Escrow is a balance lock in the operator's database, not on-chain multisig — recovery is their process, not yours.
Founded 2026
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