The French authorities have expanded an investigation to Binance, investigating alleged money laundering garments, tax fraud and other crimes in the exchange of cryptography from 2019 to 2024, according to a Reuters Tuesday report.
Binance has denied the accusations, telling Coendesk in a statement sent by email that “will strongly fight in any positions made against him.”
The investigation, which was inaugurated by Junalco, the division of the Office of the Public Prosecutor of Paris that manages economic and financial crimes, implies alleged crimes that took place in France, as well as in the broader European Union (EU). French authorities began investigating Binance in June 2023 for “aggravated money laundering” and the “illegal” provision of cryptographic trade services before receiving the regulatory approval of the AMF, the French financial regulator, in 2022.
“Binance is deeply disappointed to know that [JUNALCO] He has made the decision to send this issue, which is several years old, to the French judiciary for greater investigation, ”added the spokesman.
At the time when the initial investigation was learned in 2023, the then CEO Changpeng “CZ” Zhao described the “FUD” reports on social networks and reaffirmed Binance’s commitment to his presence in France, which Zhao called the “Center Badge of exchange in Europe. ” “
Last April, Zhao was sentenced to four months in prison in the US ). Binance also declared himself guilty of violating the laws of BSA and sanctions, and agreed to pay $ 4.3 billion in fines and sanctions to resolve charges.
As part of Zhao’s guilt agreement with US prosecutors, he agreed to resign as Binance CEO. Since then, the exchange has appointed Richard Teng, a former regulator, such as CEO. Since the acquisition of the exchange by Teng, Binance said he has intensified his compliance efforts, increasing staff and increasing their expenses in almost 40% year after year.
