France Investigates Binance Over Alleged Money Laundering and Tax Fraud

In a significant move, France's National Jurisdiction for the Fight against Organized Crime (Junalco) has initiated an investigation into Binance, one of the world's leading cryptocurrency platforms. The probe focuses on serious allegations including aggravated money laundering, connections to drug trafficking, and tax fraud.

This isn't the first time Binance has come under the scrutiny of French authorities. A previous investigation in 2023 also targeted the platform for similar charges. Junalco has pointed out that Binance failed to meet its obligations to prevent money laundering and the financing of terrorist activities, raising concerns over the platform's compliance measures.