Binance, the world’s largest cryptocurrency exchange, is currently under investigation by local authorities in France and the Netherlands. The investigations are focused on allegations that Binance engaged in illegal activity and money laundering.
Allegations in France
In France, Binance is being investigated by the Paris public prosecutor’s office. The investigation is focused on allegations that Binance operated as a digital asset service provider without a license and engaged in money laundering.
The investigation was launched in February 2022, after the French financial regulator, the Autorité des Marchés Financiers (AMF), received a complaint from a financial crime watchdog. The complaint alleged that Binance had facilitated the laundering of millions of euros in criminal proceeds.
Allegations in the Netherlands
In the Netherlands, Binance is being investigated by the Dutch central bank, the De Nederlandsche Bank (DNB). The investigation is focused on allegations that Binance failed to register as a cryptocurrency exchange and comply with anti-money laundering (AML) regulations.
The investigation was launched in April 2022, after the DNB received a complaint from the Financial Conduct Authority (FCA), the UK’s financial regulator. The FCA alleged that Binance had failed to comply with AML regulations in the UK.
Binance has denied the allegations against it. The company has said that it is cooperating with the investigations and that it is committed to complying with all applicable laws and regulations.