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Binance Facing Money Laundering Investigation in France

French regulators renew interest in Binance money laundering allegations.
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Jan 28, 2025 • 1 min read

French authorities are investigating Binance, one of the largest crypto exchanges, for alleged money laundering involving illicit funds.

What's the Scoop?

  • Investigation Launched: French prosecutors are investigating Binance over accusations of money laundering.
  • Historical Context: The investigation reportedly involves funds linked to drug trafficking and other illegal activities. Binance paid a record fine to American prosecutors last year and CZ served a four-month priison sentence.
  • Binance’s Statement: "While we do not usually comment on legal proceedings as a matter of policy, Binance fully denies the allegations and will vigorously fight any charges made against it."

Bankless Take

While Binance claims that the investigation is linked to old allegations that were made several years ago and denies all allegations, Binance's settlement with U.S. authorities and CZ's time served do not suggest that the exchange is fully bullet-proof in dealing with global regulators.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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