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French Authorities Investigate Binance for Crimes

French Authorities Investigate Binance for Crimes

French prosecutors have launched a judicial investigation into Binance for drug trafficking, money laundering, and tax evasion. This probe extends from a 2023 inquiry into the platform’s suspected illicit activities.

French authorities have started a judicial investigation into Binance, probing claims of drug trafficking, money laundering, tax evasion, and possibly additional charges.

This study is based on a 2023 investigation that looked into whether the exchange was involved in illegal money activities.

Binance Settles DOJ Case, CEO Change Amid Legal Scrutiny

In 2023, the crypto business was closely watched after the FTX collapse and several company bankruptcies, leading regulators to step in. The U.S.

Securities and Exchange Commission, the Department of Justice, and other agencies have taken legal action against big exchanges like Binance and Coinbase, with U.S. prosecutors at the forefront.

Coinbase challenged the accusations, but the company agreed to a deal with the DOJ for $4.3 billion. They will make changes to follow the law and adjust their leadership.

Changpeng Zhao, has stepped down as CEO, and Richard Teng has been named as the new CEO. CZ spent four months in jail before being released in late 2024.

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