"There are a lot of allegations against him, after all, which country wants to sue Binance?'
Cryptocurrency giant Binance is being investigated by French authorities for alleged money laundering and illegally offering digital asset services, an official at the Paris prosecutor's office reported.
It is already known that Binance has been registered as a digital asset service provider (PSAN) with the French financial regulator Autorité des Marchés Financiers (AMF), but the investigation is in relation to its operations before receiving approval in May 2022.
The streak, Binance may now be depressed following the crypto exchange also facing a lawsuit from the Securities and Exchange Commission (SEC) of the United States (US) for failing to register as a platform for trading and selling securities.
However, Binance will continue to work closely with regulators on all compliance requirements to uphold high standards, Changpeng Zhao (CZ) commented, stressing that they always comply with the law in France.
He added that Binance, including other crypto exchanges, had been given a surprise visit by the French authorities in the past few weeks.
Binance recently refused to offer its services in the Netherlands after failing to obtain a license that would demonstrate its exchange meets the country's anti-money laundering (AML) guidelines.
In addition to also applying to terminate its registration with the Cypriot securities regulator, Binance has injected $116 million through a non-profit partnership to finance the French crypto ecosystem.
