French authorities probe Binance again for money laundering and unlicensed activities – report

According to a news flash from Reuters, authorities in France have opened a probe into allegations involving Binance. Officials are reviewing money laundering, tax fraud, and drug trafficking to determine whether the platform facilitated transactions tied to criminal networks and offered services before securing required registrations.

France is a key territory for Binance within Europe, but the exchange has faced several challenges in the country over the past few years.

The Paris Public Prosecutor’s Office previously launched inquiries into “aggravated money laundering” and unlicensed digital asset services. In mid-2023, local authorities conducted on-site inspections, examining transactions suspected of obscuring proceeds from fraud or organized crime.

Prosecutors have alleged that Binance’s marketing practices reached French users before official licensing took effect in May 2022, raising concerns about compliance failures and insufficient anti-money laundering controls.

Questions about Binance’s European status have grown amid license withdrawals in the Netherlands, Belgium, the UK, and Germany. Executives opted to withdraw specific license applications after facing stringent anti-money laundering requirements, and there are indications that ongoing investigations in France could complicate any single authorization path under the Markets in Crypto-Assets (MiCA) framework. A criminal conviction affecting ownership structures might jeopardize approvals granted by French regulators, posing challenges for European expansion.

Binance has historically positioned France as a pivotal base for European operations, and its leadership once cited the nation’s regulatory environment as a cornerstone for expansion. Ongoing probes, however, bring renewed attention to questions about governance, anti-money laundering protocols, and user security.

The post French authorities probe Binance again for money laundering and unlicensed activities – report appeared first on CryptoSlate.

  • Related Posts

    REX introduces BMAX ETF for Bitcoin-backed corporate bond access

    REX Shares has launched the Bitcoin Corporate Treasury Convertible Bond (BMAX) ETF, designed to give investors access to convertible bonds issued by companies using debt to acquire Bitcoin. The fund,…

    Continue reading
    Bitcoin’s rise turns 2017 theft into multimillion-pound scandal for UK officer

    British authorities have charged National Crime Agency (NCA) officer Paul Chowles with multiple offenses related to the alleged theft of 50 Bitcoin in 2017. At the time of the alleged…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Orbis86 Brings AI & Web3 to GDC 2025 – Powering the Next Era of Gaming

    Orbis86 Brings AI & Web3 to GDC 2025 – Powering the Next Era of Gaming

    REX introduces BMAX ETF for Bitcoin-backed corporate bond access

    REX introduces BMAX ETF for Bitcoin-backed corporate bond access

    Bitcoin’s rise turns 2017 theft into multimillion-pound scandal for UK officer

    Bitcoin’s rise turns 2017 theft into multimillion-pound scandal for UK officer

    Bitcoin outperforms tech stocks as US market opens to sea of green

    Bitcoin outperforms tech stocks as US market opens to sea of green

    Solana governance sets new participation record outpacing past US presidential elections

    Solana governance sets new participation record outpacing past US presidential elections

    Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million

    Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million