French Investigation Targets Binance: Allegations of Money Laundering and Regulatory Violations
Binance, the crypto exchange with the
highest trade volume globally, is currently
facing an investigation for suspected money laundering activities, as reported by the
French publication Le Monde. The finance judicial investigation
service of France is currently scrutinizing the actions of Binance’s subsidiary in the country.
Amid mounting
challenges faced by the crypto exchange Binance, recent developments reveal that French authorities have turned their attention
to the exchange’s French subsidiary. Following the legal action taken by the U.S.
Securities and Exchange Commission (SEC) against Binance,
reports indicate that law enforcement officials in France have initiated an investigation into the matter.
The complaint against Binance contains accusations of
“aggravated money laundering” and charges related to the
“illegal provision of services for digital assets (PSAN).”
