Another Country Investigated Bitcoin Exchange Binance After SEC!

A bad news came from France for the crypto money exchange Binance, which is in trouble with the SEC in the USA.

France Opens Investigation into Cryptocurrency Exchange Binance

The Paris prosecutor’s office said in a statement, Binance’s France It confirmed that its unit is under investigation by local authorities for the illegal provision of digital asset services and aggravated money laundering actions.

The Paris prosecutor’s office said in a statement that the French prosecutors’ allegations against Binance are related, on the one hand, to “acts of illegal enforcement” of operating as a digital asset service provider, and to “money laundering aggravated by competing with investment, concealment, conversion operations, the latter by criminal perpetrators who make a profit.” carried out,” he said.

Binance, which is facing a lawsuit with the U.S. Securities and Exchange Commission for alleged failure to register as a trading platform and unregistered sale of securities, will have its French counterpart, through its local arm, by 2022, news outlet Le Monde reported earlier on Friday. suspected of recruiting customers outside the legal framework.

The news came as Binance announced that it was leaving the Netherlands after the company failed to obtain a license that showed it met the country’s anti-money laundering (AML) guidelines.

The exchange has also applied to terminate Cyprus’ registration with the securities regulator, saying it is focusing its efforts on “less regulated entities in the EU”.

In May 2022, Binance received regulatory approval from France’s market regulator, AMF (Autorité des marchés financiers).

During last year’s Paris Blockchain Week, the company’s CEO, Changpeng “CZ” Zhao, said that the city will likely become the “financial hub for crypto in Europe and much of the world.”

*Not investment advice.