Unmasking Cryptocurrency Controversies: Binance Under France's Judicial Microscope

French authorities have launched a judicial investigation into Binance, the world's top cryptocurrency exchange, on allegations including money laundering and tax fraud. The probe spans from 2019 to 2024 and covers misconduct in France and the European Union. Binance faces global legal challenges amid user complaints and regulatory scrutiny.

French investigators have initiated a judicial probe into Binance, the globe's leading cryptocurrency exchange, on charges that include money laundering and tax fraud.

The economic and financial crime section of the Paris public prosecutor's office, JUNALCO, revealed the investigation targets money laundering tied to drug trafficking.

The inquiry scrutinizes activities from 2019 to 2024 across France and all EU nations, prompted by user complaints of misinformation and unlicensed trading practices. Binance faces global legal challenges, including a U.S. Supreme Court case involving unregistered tokens.

(With inputs from agencies.)