Crypto Exchange Binance Probed by France for Alleged Illegal Practices

Binance, the world’s largest cryptocurrency exchange, is under investigation by French authorities for the alleged illegal provision of digital-asset services and acts of aggravated money laundering, according to an official for the Paris public prosecutor’s office.

Binance had an on-site visit by French authorities last week, a spokesperson for the exchange said in a statement. “In France, on-site visits by regulators and inspectors are part of regulatory obligations to which all financial institutions must adhere,” the spokesperson added, declining to comment on specifics of law enforcement or regulatory investigations. “We abide by all laws in France, just as we do in every other market we operate.”