France announced that it is suing Binance for money laundering.
According to the Paris prosecutor’s statement, Binance illegally provided digital asset services to local customers and implemented poor money laundering controls. He is under investigation by local authorities for illegal provision of digital asset services and aggravated money laundering actions.
Paris Chief Public Prosecutor’s Office Made a Statement on the Subject
“The documentary and computer elements collected during the search will now have to be the subject of an in-depth study,” said the Paris Public Prosecutor’s Office. Also, the news came after Binance announced that it was leaving the Netherlands after the company failed to obtain a license that showed it complied with the country’s anti-money laundering (AML) rules.
A blow to Binance, which has been on the agenda recently with the SEC crisis, came from France. The crypto ecosystem is wondering what kind of solution Binance will follow, which has been in trouble with regulators and governments.
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