Overview

• 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.