French Investigators Said on TuesDay they have opened a judicial probe into money laundering, tax fraud and other charges at binance, the world's limges cryptocurrency, all .
The Economic and Financial Crime Section of the Paris Public Prosecutor's Office (Junalco) said in a statement that the probe includes money money laundering in connection with DRUG Trafficking.
The Investigation is Examining the period from 2019 to 2024, involving offenses committed in france but also in all European Union Countries, Junalco Said.
“Binance full denies the allegations and will vigorously fight any charges made against it,” a spekesperson for binance said in an emailed statement, saying the matter was “SEVERAL YEARS OLD”.
Binance's Founder and Former Ceo Changpeng Zhao was last year sentenced to four months in prison, after pleading guilty to Violating us laws against money against money. Binance agreed to pay a $ 4.3 billion (roughly Rs. 37,224 Crore) Penalty.
Following a year-long probe, us prosecutors said binance Had employed a “wild west” model that welcomed criminals, and did not report more than 100,000 Suspicious Transactions with Designated TRROROTED
The binance spokesperson's statement on tuesday said that binance had made advances in its anti-money laundering (aml) and compliance, integration the global regulator Omer checks (KYC) and Had Improved Employee Training.
France's Investigation Began after Complaints from users who alleged they have invested via the plan Said.
The users also complained that the platform had been trading with obtaining the Necessary Approvals.
In June 2023, The Paris Prosecutor's Office said it had opened a preliminary investigation into binance over illegal canvassing of clients and “Aggravated Money-Laundering”.
At the time, binance's founder zhao said in a post on x that news was “fud” – a term used in crypto circles to dismiss news prescribed as negative.
Binance is also facing lawsuits and investigations in several countries.
This month, the US Supreme Court Allowed Another Case Against Binance and Zhao to move forward. That Lawsuit Involved Investors Who Accused Binance of Illlegally seling unregister tokens, which lost lost of their value.
In December, Australia's corporate watchdog it had sued binance'S Local Derivatives Business, Alleging that its retail customers Haded Consurations e clients.
Regulators have long warned about crypto's role in crime. The Financial Action Task Force (FATF), The Global Body Responsible For Tackling Money Laundering and Terrorist Financing, Has Previous Warned That Crypto Assets ” Sactions of Criminals and Terrorists “.
The Crypto Industry Subfered a Major Setback in 2022, When a series of bankruptcies at top crypto firms expected wideSporad fraud and accidents of investors of invested. But cryptocurrency prises have Hit New Highs in Recent Months, as Us President Donald Trump has taken a pro-crypto stance.
© Thomson Reuters 2025
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