- Binance is reportedly under tax fraud and money laundering probe in France.
- Reuters reported on Jan. 28 that France’s prosecutors are investigating Binance over activities between 2019 and 2024.
France has launched a judicial investigation into allegations of tax fraud, money laundering and other illicit activities at Binance, Reuters reported on Jan.28.
The report states that investigators from the Paris Public Prosecutor’s Office had opened the probe into Binance’s activities between 2019 and 2024.
French investigation into Binance
Binance, the world’s largest cryptocurrency exchange by volume, settled with the US authorities in November 2023. In June of the same year, France revealed the company was under preliminary investigation over money laundering.
Binance has reportedly been under probe in France at least since 2022.
In a comment on the reports of a French probe into tax fraud and money laundering, a Binance spokesperson reportedly told Protos:
“Binance fully denies the allegations and will vigorously fight any charges made against it.”
While the exchange settled with the US DOJ for $4.3 billion and agreed the exit of former CEO Changpeng Zhao, it remains in a legal tussle with the US Securities and Exchange Commission.
Binance and its CZ recently lost an appeal that sought to dismiss a class action lawsuit alleging the crypto exchange violated US securities laws. The company’s appeal failed at the US Supreme Court.