France’s public prosecutor is investigating Binance on suspicion of breaking money laundering and terrorist financing laws, in the latest probe into the world’s largest cryptocurrency exchange.
Binance is “likely to have assisted in habitual money laundering . . . in particular drug trafficking and tax fraud”, the French public prosecutor said on Tuesday, for activities “committed in France but also . . . in all countries of the European Union”.
It marks the latest move against Binance by law enforcement and highlights the use of cryptocurrencies in international criminal operations. The inquiry is an expansion of another that began in France in 2023 over whether it marketed services to consumers without regulatory approval and other allegations.