Binance crypto exchange is currently under investigation by France over allegations of illegal provision of digital asset services and acts of aggravated money laundering.
The Paris public prosecutor’s office has confirmed these investigations, revealing serious allegations against the exchange.
French prosecutors have accused Binance of engaging in illegal activities related to operating as a digital asset service provider and committing acts of aggravated money laundering.
These allegations involve competition with investment operations, concealment, and conversion, with the perpetrators profiting from these offenses.
Binance is registered as a digital asset service provider with the French financial regulator, but the investigation focuses on activities conducted outside the legal framework until 2022.
The specialized interregional jurisdiction of Paris (JIRS) conducted an investigation into Binance, leading to a referral to the SEJF (Service d’Enquêtes Judiciaires des Finances), an anti-financial crime arm of the government, in February 2022.
The collected documentary and computer evidence will undergo thorough analysis as part of the investigation.
Amidst these ongoing investigations, Binance recently announced its decision to exit the Netherlands. The exchange failed to obtain a license demonstrating compliance with the country’s anti-money laundering (AML) guidelines.
This development adds to the legal challenges and regulatory hurdles faced by Binance in different jurisdictions.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
Related posts
Binance executive’s tax evasion case in Nigeria postponed, next hearing set for April 19
