Binance Being Investigated for Money Laundering by French Authorities

French authorities have are probing Binance for money laundering, tax fraud, drug trafficking and other charges.

Binance told Decrypt in a statement Tuesday that the allegations were "several years old," and that it was "deeply disappointed" to hear it was being taken further.

France's financial judicial investigation service started investigating Binance back in 2023. Binance confirmed to Decrypt that the JUNALCO, a Paris division of the French Public Prosecutor's Office, had taken the decision to refer the case to the French judiciary for further investigation.

Reuters first reported the news.

"While we do not usually comment on legal proceedings as a matter of policy, Binance fully denies the allegations and will vigorously fight any charges made against it," the exchange said.

This is a breaking news story and will be updated.