After the SEC, an investigation was launched by France about the Bitcoin exchange Binance, which has been on the radar of regulators recently.
In a statement made by France, it was stated that Binance is under investigation for money laundering activities.
After the French authorities, statements came from Binance and its CEO, CZ.
Acknowledging that they are under investigation by the French authorities, Binance said last week that it was audited by French regulators and investigators.
Stating that they are cooperating with the authorities, Binance made the following statements in its statement:
“Last week, the relevant authorities audited Binance.
As always, Binance was fully collaborative and we honored our obligations accordingly. We continue to work closely with regulators and law enforcement on all ongoing compliance requirements to maintain high standards.
Binance spends significant time and resources collaborating with law enforcement around the world. In France, as in all other markets in which we operate, we comply with all laws.
We will not comment on details of law enforcement or regulatory investigations, except to say that information about our users is held securely and is only released to government officials when appropriate documented justifications are received."
Stating that the news about the Binance France investigation is FUD, CZ pointed out that Binance is not the only crypto money platform audited in France.
“In France, surprise (without notice) inspections of businesses are also being done for banks and now cryptocurrencies.
The surprise inspection to Binance France took place a few weeks ago. And Binance has fully cooperated with the french authorities.
Also, Binance is not the only crypto business to be audited. This has also happened to other crypto businesses operating in France.
Binance France remains our main hub in Europe."
4. FUD.
In France, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too.
The surprise visit for Binance France happened a couple of weeks ago. It's not "news". Binance France cooperated fully.
Binance also… https://t.co/xdbLc5jXBW
— CZ 🔶 Binance (@cz_binance) June 16, 2023
