France Accuses Binance of Money Laundering
French prosecutors have launched an investigation into Binance, one of the world's largest cryptocurrency exchanges. According to Reuters, the company faces allegations related to money laundering from drug trafficking and tax fraud. These claims were indirectly confirmed by the Paris Prosecutor’s Office’s division for economic and financial crimes.
"Binance strongly denies any wrongdoing and will vigorously defend itself against all accusations," a company representative stated, adding that the issue has been ongoing for several years.
The Paris Prosecutor’s Office clarified that the investigation covers the period from 2019 to 2024, with alleged offenses occurring not only in France but across the entire European Union. The probe was reportedly triggered by complaints from users who claimed to have lost funds after investing through Binance. They accused the platform of providing misleading information about investment products.
Additionally, users alleged that Binance was operating without the necessary regulatory approvals. In 2023, French authorities initiated a preliminary investigation into the exchange over illicit client solicitation and large-scale money laun
dering.
French prosecutors have launched an investigation into Binance, one of the world's largest cryptocurrency exchanges. According to Reuters, the company faces allegations related to money laundering from drug trafficking and tax fraud. These claims were indirectly confirmed by the Paris Prosecutor’s Office’s division for economic and financial crimes.
"Binance strongly denies any wrongdoing and will vigorously defend itself against all accusations," a company representative stated, adding that the issue has been ongoing for several years.
The Paris Prosecutor’s Office clarified that the investigation covers the period from 2019 to 2024, with alleged offenses occurring not only in France but across the entire European Union. The probe was reportedly triggered by complaints from users who claimed to have lost funds after investing through Binance. They accused the platform of providing misleading information about investment products.
Additionally, users alleged that Binance was operating without the necessary regulatory approvals. In 2023, French authorities initiated a preliminary investigation into the exchange over illicit client solicitation and large-scale money laun
dering.