- French regulators are investigating Binance over alleged unlicensed activities and money laundering, adding to its global legal troubles.
- Despite obtaining regulatory approval in 2022, Binance now faces intensified scrutiny as authorities probe past financial transactions and market practices.
Recalling Crypto News Flash’s previous disclosures, in early 2023, Binance was under investigation in France for KYC and AML noncompliance, along with alleged money laundering. Now, Binance, the world’s largest crypto exchange, is once again in the regulatory spotlight—this time facing fresh scrutiny in France over money laundering allegations.
Despite securing approval as a Digital Asset Service Provider (DASP) in May 2022 under the oversight of the Autorité des Marchés Financiers (AMF) ashamed in a tweet, Binance is now being accused of violating its regulatory obligations. French authorities are investigating potential criminal charges, adding to the exchange’s growing list of legal troubles worldwide.
La justice française ouvre une enquête contre Binance
C'est la plus grande plateforme d'échange de cryptos au monde (250 millions d'utilisateurs)
J'ai contacté le parquet, voici ce qu'il faut savoir :
La Juridiction nationale de lutte contre la criminalité organisée… pic.twitter.com/pN57VFHfZ8
— Grégory Raymond
(@gregory_raymond) January 28, 2025
A Familiar Pattern of Legal Challenges
The accusations in France echo Binance’s past legal battles, including its 2023 case with the U.S. Department of Justice, which resulted in a record $4 billion fine and the resignation of its former CEO, Changpeng Zhao (CZ).
French regulators claim Binance engaged in unlicensed activity from 2019 to 2024, including running ads through influencers before obtaining proper registration. The investigation was reportedly triggered by user complaints regarding financial losses and misleading information.
Adding to the scrutiny, Binance transferred $20 million worth of BTC, ETH, and SOL to market maker Wintermute. Critics argue Wintermute manipulates markets by providing artificial liquidity to exploit retail investors—an accusation Binance has faced before, particularly regarding its listing of low market-cap meme coins.
More Legal Battles on Multiple Fronts
The legal pressure on Binance is intensifying globally. In the U.S., the Supreme Court recently ruled that a class-action lawsuit against the exchange can move forward, with former investors alleging Binance sold unregistered securities.
Meanwhile, in the U.K., former Binance executive Amrita Srivastava is suing the company for wrongful dismissal, claiming she was fired after reporting an attempted bribe solicitation by a colleague.
At the time of writing, Binance (BNB) is trading at $670.15, down 0.88% in the past day and 3.84% in the past week. See BNB price chart below.
As regulatory scrutiny on centralized exchanges tightens, Binance’s future remains uncertain. French authorities have yet to disclose further details, but this latest probe signals another major hurdle for the embattled exchange.
