Binance Targeted in France’s AML Crackdown

French Authorities Intensify AML Inspections on Crypto Firms

• French authorities are conducting anti-money laundering (AML) inspections on crypto firms, including Binance.
• The ACPR, France’s prudential regulator, has requested Binance to enhance its compliance measures by upgrading systems and expanding risk and compliance teams.
• Companies found noncompliant may face penalties or disqualification from France’s MiCA licensing process.
• The AMF, France’s markets regulator, provides time for companies to address deficiencies before imposing sanctions.
• Only a few entities like Deblock, GOin, Bitstack, and CACEIS have obtained MiCA approval so far.

French regulators are intensifying AML checks on crypto exchanges such as Binance to ensure compliance with EU-level requirements. Noncompliance could lead to penalties or exclusion from the MiCA licensing process necessary for EU operations.