French authorities probe Binance again for money laundering and unlicensed activities – report
French authorities have initiated an investigation into Binance for potential involvement in money laundering, tax fraud, and drug trafficking. The probe examines whether Binance facilitated transactions linked to criminal networks and operated without necessary registrations. The Paris Public Prosecutor’s Office has previously investigated Binance for aggravated money laundering and unlicensed digital asset services. Concerns have arisen over Binance's marketing practices targeting French users before obtaining official licensing in May 2022. The investigation may affect Binance's European operations, especially following license withdrawals in several countries due to stringent anti-money laundering requirements. This situation could impact Binance's compliance under the Markets in Crypto-Assets (MiCA) framework.
