French Authorities Target Binance: Is a FTX-Style Scandal Looming?

French Authorities Target Binance: Is a FTX-Style Scandal Looming?

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Binance Faces Major Investigation in France

In a significant development for the cryptocurrency landscape, the French judiciary has launched an official investigation into Binance, the world’s leading cryptocurrency exchange. This marks a pivotal moment in the ongoing scrutiny of the platform, which is facing serious allegations that could echo the infamous FTX scandal.

According to a report from Reuters, which relayed information from French authorities earlier this week, Binance is under investigation on multiple counts, including:

  • Money laundering
  • Tax fraud
  • Facilitation of drug trafficking

French authorities suspect that Binance has violated strict European regulations regarding anti-money laundering (AML) efforts. The accusations extend beyond tax fraud to include facilitating illegal transactions linked to drug trafficking networks.

This is not the first hurdle for Binance; in 2023, the U.S. regulator scrutinized the platform extensively, accusing it of alleged violations of securities laws.

The top position of Binance does not provide it with immunity. Worldwide, regulations are becoming increasingly stringent, demanding greater transparency and compliance from cryptocurrency platforms.

The cryptocurrency industry is still reeling from the aftermath of the FTX collapse, which traumatized countless users and caused a massive market crash. A similar scandal involving Binance could lead to unprecedented chaos, though current indications show no signs of such an event resurfacing.

United States: From Executioner to Benefactor

This new investigation unfolds as France is increasingly viewed as a regulatory adversary toward cryptocurrencies. Meanwhile, across the Atlantic, the Trump administration is preparing to take a contrasting approach.

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Experts predict that the widening regulatory gap between the two jurisdictions could allow the United States to capitalize on the current bullish cycle in the cryptocurrency market. Tokens labeled “Made in USA” are gaining traction as investors anticipate favorable regulations for these assets.

Furthermore, these cryptocurrencies might enjoy financial advantages, including increased liquidity and tax benefits. This could bolster their growth and allow them to operate more freely in the market.

For those interested in digital assets, a promising presale is currently blending AI and cryptocurrency—Mind Of Pepe, which is experiencing phenomenal success among investors.


Disclaimer: Cryptocurrencies are a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You may lose all of your capital.


Source: Reuters


Further Reading:

  • KuCoin Fined Heavily in the U.S.: Are Your Cryptocurrencies Safe?
  • Ohio Interested in a Strategic Bitcoin Reserve? Its Representative Speaks Out
  • DeepSeek Identifies Three High-Potential Cryptocurrencies for the Bull Run of 2025

Richad Addou

Expert Cryptocurrency Writer


Richad Addou

Expert Cryptocurrency Writer


Richad has an unconventional background. Initially trained as a nurse, he turned his attention to cryptocurrencies in 2021 amid the rising interest in digital asset markets. Convinced by Bitcoin’s message and its transformative potential, he developed a genuine passion for this domain. After exploring major cryptocurrencies like Bitcoin, Ethereum, and Solana, Richad focused on Avalanche, drawn by its innovative technology and ambitious goals. He even launched his NFT project on this network, which he holds dear. Now, as a writer for ActuFinance, he combines his two favorite hobbies: writing and cryptocurrencies, sharing his passion and insights with a broad audience. His aim is to continue exploring the cryptocurrency universe while helping others understand this complex and ever-evolving landscape.

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