28.01.2025 18:50
According to daily trading volume, the world's largest cryptocurrency exchange, Binance, continues to remain on the radar of governments. The Paris prosecutor's office has launched an investigation filled with allegations of money laundering and tax fraud against Binance. The investigation also covers activities across the European Union.
French authorities have launched a serious investigation filled with allegations against the cryptocurrency giant Binance. The Paris prosecutor's office states that the platform is involved in activities such as money laundering and tax evasion, indicating that crimes have been committed across the European Union.
Crypto Giant Binance Faces Legal Uncertainty
French judicial authorities have initiated a wide-ranging investigation into Binance, a leading platform in the cryptocurrency sector. The inquiry, conducted by the economic crimes unit JUNALCO of the Paris Public Prosecutor's Office, encompasses allegations of money laundering and tax evasion.
According to information recently shared with the public by the prosecutor's office, the investigation is scrutinizing activities between 2019 and 2024. It has been noted that the examination is not limited to France but also includes suspicious transactions in European Union countries. The trigger for the investigation was reported to be complaints from platform users. Investors claimed that Binance caused financial losses by providing misleading information and operated without the necessary legal permits. Following the initiation of the investigation, Binance management has not yet made a statement regarding the matter.
The legal troubles of the cryptocurrency giant are not limited to this. The U.S. Supreme Court has approved the hearing of a case filed against Binance and its founder Changpeng Zhao this month. In this case, the company is accused of harming investors through unregistered token sales.
Last December, Australia's regulatory body took Binance's derivative transactions to court. According to the agency's claim, the platform deprived individual investors of consumer rights by categorizing them as institutional clients.
These investigations into Binance, one of the largest players in the cryptocurrency market, bring the lack of regulation in the sector to the forefront. It is believed that the outcomes of this process could have significant implications for both the company and the cryptocurrency ecosystem.