PARIS: Binance, the largest cryptocurrency exchange, is under preliminary investigation for both illegal canvassing of clients and aggravated money-laundering, the Paris prosecutor's office said on Friday , confirming media reports.
"The investigation is about, on one hand, the unauthorised practice of the profession of virtual assets service provider and, on the other, about aggravated money-laundering ,"the prosecutor's office said in a statement. "In France, on-site visits by regulators and inspectors are part of regulatory obligations to which all financial institutions must adhere. We had an on-site visit last week by the relevant authorities," a Binance spokesperson said.
"We will not comment on the specifics of law enforcement or regulatory investigations except to say that information about our users is held securely and only provided to government officials upon receipt of documented, appropriate justification." The investigation follows various setbacks for Binance including a Jun 5 decision by the US Securities and Exchange Commission to charge the company with evading securities laws. Binance disputes the
Source: Digital Coin News (digitalcoinnews.net)
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