Binance is under investigation by French authorities for "illegally" providing digital asset services and "money laundering activities."

ChainCatcher news, the Paris prosecutor's office has confirmed that Binance is under investigation by local authorities for "illegally" providing digital asset services and "serious money laundering activities." The allegations against Binance by the French prosecutor involve, on one hand, "illegal activities" related to operating as a digital asset service provider, and on the other hand, "money laundering activities exacerbated by competition with investment, concealment, and conversion businesses, which are carried out by criminals and generate profits."

According to Le Monde, Binance is suspected of lobbying French clients outside the legal framework through its branch in France before 2022. The Paris prosecutor's office stated, "Documents and computer materials collected during the search must now become the subject of in-depth study." (CoinDesk)