Binance, the world’s largest cryptocurrency exchange, is once again facing legal trouble, this time from French authorities. Just as the company seemed to be navigating past earlier regulatory hurdles, prosecutors in Paris launched a money-laundering investigation that has put Binance back in the spotlight.
According to a Reuters report on January 28, the Paris Public Prosecutor’s Office is examining allegations that Binance was involved in money laundering and drug trafficking between 2019 and 2024. This isn’t the first time French regulators have scrutinized the exchange; investigations into Binance’s operations date back to at least 2022.
Binance Denies Allegations, Blames Old Claims
In response to the investigation, a Binance spokesperson firmly denied any wrongdoing. The spokesperson emphasized that the accusations stem from outdated and previously debunked claims made by French authorities.
“Binance is deeply disappointed to learn that JUNALCO, a division of the French Public Prosecutor’s Office, has decided to refer this matter, which is several years old, to the judiciary for further investigation,” the company stated.
Despite Binance’s denial, the exchange’s legal troubles are far from isolated. Between 2021 and 2025, Binance has faced regulatory scrutiny in at least 10 countries, with accusations ranging from violations of Anti-Money Laundering (AML) laws to operating without proper securities registration.
Ongoing Regulatory Challenges in the Crypto Industry
Binance’s latest legal issues are part of a broader trend of regulatory crackdowns in the crypto industry. This week’s developments also include KuCoin’s $300 million settlement with the U.S. Department of Justice over similar regulatory violations.
In addition to the legal troubles of major exchanges, the crypto world is witnessing other significant shifts. MicroStrategy continues its aggressive Bitcoin acquisition strategy, while tokenized U.S. Treasurys have made their debut on the XRP Ledger, signaling further innovation in the blockchain space.
As regulators worldwide increase their scrutiny of crypto exchanges, the outcomes of these investigations could have far-reaching implications for the entire industry.
