France is targeting cryptocurrency exchanges with expanded anti-money laundering controls to determine who will be granted licenses for the entire European Union (EU), Bloomberg reported on Friday.
Conbase (COIN) and Binance are among the exchanges under review, according to the report, which cited people familiar with the matter.
The French Prudential Supervision and Resolution Authority (ACPR) has been conducting site checks since late 2024 and has ordered Binance to strengthen its risk controls.
Failure to comply with the requirements set out by the ACPR could compromise an exchange’s ability to obtain a French Cryptoasset Markets (MiCA) license, which allows companies to offer services throughout the EU.
Companies have until the end of June next year to obtain such a license.
“Commitment to the ACPR is an ongoing component of operating as a registered AML company and AML framework reviews are a routine part of ACPR regulatory oversight,” a Binance spokesperson said in an emailed comment. “The ACPR is conducting these checks on dozens of exchanges, as detailed in its 2024 annual report.”
Neither Coinbase nor the ACPR responded to CoinDesk’s request for comment.
UPDATE (October 17 at 16:10 UTC): Add a comment sent via email from Binance.
