French prosecutors probe Binance over money laundering, fraud allegations: Report
The Paris Public Prosecutor’s Office reportedly launched a probe into the crypto exchange’s activities between 2019 and 2024.
Authorities in France have reportedly launched an investigation into cryptocurrency exchange Binance over allegations of money laundering and tax fraud.
According to a Jan. 28 Reuters report, the economic and financial crime division of the Paris Public Prosecutor’s Office said it had opened a probe into the crypto exchange’s activities between 2019 and 2024 over money laundering allegedly connected to drug trafficking. Binance users also reportedly said the exchange incorrectly communicated information to them, resulting in investing losses.
Earlier reports suggested that French authorities had been investigating Binance’s local arm since at least 2022 over allegations of money laundering and other illicit activities. Cointelegraph reached out to Binance for comment but had not received a response at the time of publication.
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Author: Turner Wright
