Crypto Updates

Binance France under Probe over ‘Illegal’ Crypto Service, Money Laundering: Report

Binance header

Binance’s
local unit in France is being investigated by public prosecutors in Paris over ‘illegal’ provision of crypto services before it was licensed
in May last year
, CoinDesk reports. The exchange is also being probed for ‘acts of
aggravated money laundering ”, the outlet said, citing the French city’s public
prosecutor’s office.

Local
French daily, Le Monde, also reported receiving the same information from the
prosecutor’s office. The outlet said Binance is suspected to have been offering digital
asset services in the country since 2020. The exchange is also being scrutinized over the likelihood it engaged in crypto promotion
before it became registered.

French
anti-financial crime agency, the Financial Judicial Investigation Service,
started investigating Binance in February 2022, with direction from specialized
court, JIRS Paris, the publication reported.

The
revelation about Binance France comes at a time the world’s largest
cryptocurrency exchange

Click Here to Read the Full Original Article at CryptoCurrency – Finance Magnates | Financial and business news…