French Authorities Probe Binance for Money Laundering. French investigators have launched a formal probe into Binance, the world’s largest crypto exchange, according to a Reuters report on January 28, 2025. The investigation focuses on allegations of money laundering. However, this is not the first time Binance has faced scrutiny. The company has previously been accused of non-compliance with local laws.

Past Regulatory Issues

In 2021, U.S. authorities investigated Binance for potential violations of anti-money laundering (AML) rules. Similarly, regulators in the UK, Japan, and Germany have issued warnings or taken action against Binance for operating without proper licenses.

“Deeply Disappointed,” Binance Responds

Binance has denied all allegations and stated it will fight any charges. The company claims the matter is “several years old.”

French authorities are investigating Binance for “aggravated money laundering” and operating without proper registration. The probe is led by France’s financial crime unit in Paris.

Officials suspect Binance may have facilitated illegal financial flows by failing to enforce strong AML measures. The inquiry examines whether Binance enabled transactions linked to tax fraud, drug trafficking, and organized crime.

Binance’s Legal Troubles in India and Cambodia

Last year, India named Binance in a tax probe over alleged tax evasion of $97 million. The Indian government has been tightening regulations on cryptocurrency, with tax authorities investigating various exchanges for compliance with Goods and Services Tax (GST) laws.

The report accuses Binance of activities leading to significant tax discrepancies.

In December 2024, Cambodia blocked access to 16 major crypto exchanges, including Binance, Coinbase, and OKX. The crackdown, enforced by the Telecommunication Regulator of Cambodia (TRC), restricted 102 domains linked to online gambling and unlicensed crypto services.