The world’s largest crypto exchange is facing a new investigation into what the company calls “old” allegations in France.

According to a new Reuters report, French authorities are investigating charges of money laundering in connection with drug trafficking against Binance.

Said an unnamed Binance spokesperson to Reuters,

“Binance fully denies the allegations and will vigorously fight any charges made against it.”

According to the report, Binance also referred to the matter as “several years old.”

It’s not the first time the world’s top crypto exchange has faced regulatory scrutiny.

In November 2023, Binance founder Changpeng Zhao stepped down as CEO and was replaced by Richard Teng. Both Zhao and Binance pled guilty to violating anti-money laundering requirements of the Bank Secrecy Act violations. Zhao was released from federal prison last September after spending less than a year incarcerated.

In Nigeria, it took an intervention from then-President Joe Biden to release Binance’s chief Nigerian compliance officer Tigran Gambaryan from prison last fall.

Gambaryan, a former agent of the US Internal Revenue Service (IRS), was visiting Nigeria to address regulatory concerns about Binance when local authorities arrested and jailed him on charges of money laundering and operating an unlicensed financial institution.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram<

Go to Source to See Full Article
Author: Daily Hodl Staff

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details