The world’s largest crypto exchange is confronted with a new study into what the company calls ‘old’ allegations in France.
According to a new report from Reuters, the French authorities are investigating the costs of money laundering in connection with drug trafficking against Binance.
Said a limited spokesperson for Binance to Reuters,
“Binance completely denies the allegations and will strongly against the charges against it.”
According to the report, Binance also referred to the issue such as ‘a few years old’.
It is not the first time that the world’s top crypto exchange has to do with regulatory control.
In November 2023 Binance founder Changpeng Zhao resigned as CEO and was replaced by Richard Teng. Both Zhao and Binance have been guilty of violating anti-money laundering requirements of the Bank Secrecy ACT violations. Zhao was released from the federal prison last September after he had published locked up for less than a year.
In Nigeria it was an intervention of the then President Joe Biden needed to release the Chief Nigerian compliance officer Tigran Gambaryan from prison prison.
Gambaryan, a former agent of the US Internal Revenue Service (IRS), visited Nigeria to tackle concern about the regulations on Binance when the local authorities arrested and imprisoned him to accuse money laundering and exploiting a financial institution without a permit.
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