Binance Under French Scrutiny Over AML Compliance
Key Notes The inspections are part of France’s effort to enforce EU-wide crypto rules under the MiCA framework. Binance has faced prior compliance demands and recently refunded $300 million after a market congestion incident. The review comes amid broader EU tensions over crypto supervision, with France, Austria, and Italy urging stricter oversight. Crypto exchange Binance…
Key Notes
- The inspections are part of France’s effort to enforce EU-wide crypto rules under the MiCA framework.
- Binance has faced prior compliance demands and recently refunded $300 million after a market congestion incident.
- The review comes amid broader EU tensions over crypto supervision, with France, Austria, and Italy urging stricter oversight.
Crypto exchange Binance has once again come under scrutiny as French regulators expand their anti-money-laundering investigations over crypto exchanges. Regulators are now evaluating 100 entities registered for offering crypto services to grant permission to operate across the European Union in the coming months.
French Regulator ACPR Inspects Binance and Other Crypto Exchanges
France’s financial regulator, the Prudential Supervision and Resolution Authority (ACPR), has been conducting ongoing inspections of multiple cryptocurrency exchanges. Sources familiar with the matter told Bloomberg that the process had already begun in late 2024.
Among the platforms under review are Binance and Coinhouse, both designated as PSANs (Prestataires de Services sur Actifs Numériques) in France. The regulator reportedly instructed Binance last year to enhance its risk management controls as part of these examinations.
“Periodic onsite inspections are a standard part of the supervision of regulated entities,” explained Binance in a statement. The recent scrutiny comes as Binance faced allegations of congestion during last week’s crypto market. However, the exchange refunded $300 million to all the affected users.
France Conducts Crypto Inspections Amid Push for MiCA Regulations
With the Market in Crypto Assets (MiCA) regulations going into effect in December 2024, France’s ongoing crypto inspections come amid growing tensions over EU-wide enforcement. While other crypto exchanges like Gemini have managed to secure a MiCA license, Binance has yet to get one.
In September 2025, France, Austria, and Italy urged the EU’s top markets watchdog to directly supervise major crypto firms and tighten rules, citing inconsistencies in implementation across member states.
The French Prudential Supervision and Resolution Authority (ACPR) is examining companies with PSAN status to ensure compliance with registration conditions. Inspections focus on the effectiveness of anti-money laundering (AML) and counter-terrorist financing (CTF) measures.
During last year’s review, Binance was asked to strengthen compliance and risk controls, which can include hiring additional staff or upgrading IT systems. Data collected by the ACPR is shared with the French Financial Markets Authority (AMF). Noncompliance could lead to sanctions or hinder a firm’s ability to obtain a MiCA license.
French companies have until June 2026 to ensure regulatory compliance. So far, only a handful of firms, including Deblock, GOin, Bitstack, and CACEIS (owned by Credit Agricole), have received AMF approval.
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