Binance Faces Expanded Investigation in France Over Money Laundering and Tax Fraud

French prosecutors are examining allegations of financial crimes by Binance from 2019 to 2024, including money laundering tied to drug trafficking and unregistered crypto services.

• French authorities have launched a judicial investigation into Binance, focusing on alleged money laundering, tax fraud, and other financial crimes between 2019 and 2024.
• The probe is being conducted by JUNALCO, the financial crime division of the Paris public prosecutor's office, and includes offenses across France and the EU.
• Binance denies the allegations and has stated it will vigorously contest the charges, describing the matter as 'several years old.'
• The investigation follows earlier legal troubles for Binance, including a $4.3 billion penalty in the U.S. and a prison sentence for its former CEO Changpeng Zhao over anti-money laundering violations.
• Binance claims to have improved compliance measures under its new CEO, Richard Teng, including increased spending on regulatory adherence and employee training.

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