According to a Reuters report On January 28, 2025, French researchers have opened a formal investigation into Binance.
The world’s largest cryptographic exchange faces charges for accusations of money laundering.
However, this is not the first time that the company is under fire. He has faced scrutiny for alleged breach of local laws
In 2021, Binance was investigated in the US for possible violations of the money laundering regulations (AML).
News: Binance under investigation for money laundering, tax fraud and drug trafficking in France
– Jacob King (@jacobkinge) January 28, 2025
Similarly, the authorities in the United Kingdom, Japan and Germany have issued warnings or take measures against the platform to operate without appropriate licenses.
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“Deeply disappointed,” says the company
“Binance completely denies the accusations and will fight vigorously in any positions made against him,” said the company. The company added that the matter was “several years old.”
The French authorities are investigating Binance for alleged “acts of aggravated money laundering” and unregistered provision of digital asset services. The investigation is being directed by the Unit of Specialized Financial Crimes of the Office of the Public Prosecutor of France in Paris.
The authorities suspect that the company may have facilitated illicit financial flows by not implementing solid AML measures.
According to reports, the investigation focuses on Si Binance allowed transactions linked to criminal activities such as tax fraud, drug trafficking and other forms of organized crimes.
In addition, regulators are analyzing whether the platform operated in France without the appropriate registration under local laws governing the suppliers of digital asset services (DASPS).
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Binance appointed in the research of cryptocurrencies of $ 97 million of India
The Indian government takes energetic measures against the evasion of cryptographic taxes
– Major exchanges such as Binance and #Wazirx ₹ 824 million rupees (that’s $ 97 million!) In GST unpaid.
– Other exchanges that are investigated: Coindcx and Coinswitch Kuber #Cryptotax #India #Binance pic.twitter.com/9asr27u8uh-Chad All-in Top Daily Crypto News (@chad_allin) December 4, 2024
Last year, Binance was appointed In India’s fiscal investigation with respect to an alleged fiscal evasion worth $ 97 million, according to a statement by the Minister of Finance State Pankaj Chaudhary in Parliament.
The investigation arose from the intensified efforts of the Indian government to regulate and tax the cryptocurrency sector.
In fact, the General Directorate of GST Intelligence India (DGGI) has actively investigating several cryptocurrency exchanges to guarantee compliance with the regulations of the goods and services tax (GST).
The report alleges that the company participated in activities that resulted in significant fiscal discrepancies.
In addition, in December 2024, Cambodia blocked access to 16 main cryptographic exchanges, including Global Giants Binance, Coinbase and OKX. The repression, applied by the Cambodian Telecommunications Regulator (TRC) restricts access to 102 domains, mainly linked to online games and cryptographic activities without a license.
Explore: Wazirx, Binance appointed in Cryptocurrency investigation of $ 97 million from India
The post Binance under scrutiny when France begins to the fraud investigation first appeared in 99Bitcoins.
