Binance and Coinhouse Inspected by French Regulators for AML Compliance
French regulators are intensifying their anti-money-laundering investigations into crypto exchanges, including Binance. The French Prudential Supervision and Resolution Authority (ACPR) is reviewing 100 entities for compliance with the upcoming EU-wide Market in Crypto Assets (MiCA) regulations.
Key Points:
- The ACPR began inspecting multiple cryptocurrency exchanges in late 2024, focusing on platforms like Binance and Coinhouse.
- These inspections assess compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) measures.
- Binance has been advised to enhance its risk management controls and improve compliance systems.
- Despite ongoing scrutiny, Binance refunded $300 million to users affected by recent market issues.
- France, Austria, and Italy have called for stricter EU oversight of major crypto firms, citing inconsistencies across member states.
- French companies need to achieve regulatory compliance by June 2026 to avoid penalties or licensing difficulties.
Currently, only a limited number of firms, such as Deblock and Bitstack, have received approval from the French Financial Markets Authority (AMF).