{"id":10297,"date":"2025-01-29T15:02:18","date_gmt":"2025-01-29T15:02:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10297"},"modified":"2025-01-29T15:02:18","modified_gmt":"2025-01-29T15:02:18","slug":"binance-under-scrutiny-as-france-starts-investigation-for-fraud","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10297","title":{"rendered":"Binance Under Scrutiny As France Starts Investigation For Fraud"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">According to a <\/span><a href=\"https:\/\/www.reuters.com\/technology\/french-investigators-open-money-laundering-probe-against-crypto-platform-binance-2025-01-28\/\" target=\"_blank\" rel=\"nofollow\"><span style=\"font-weight: 400\">Reuters report<\/span><\/a><span style=\"font-weight: 400\"> dated 28 January 2025, French investigators have opened a formal probe into Binance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The world\u2019s largest crypto exchange is facing charges over allegations of money laundering.\u00a0<\/span><\/p>\n<p>However, this isn\u2019t the first time the company is under fire. It has faced scrutiny <span style=\"font-weight: 400\">for alleged non-compliance with local laws<\/span><\/p>\n<p><span style=\"font-weight: 400\">In 2021, Binance came under investigation in the US for potential violations of anti-money laundering (AML) regulations.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEWS: Binance under investigation for money laundering, tax fraud, and drug trafficking in France<\/p>\n<p>\u2014 Jacob King (@JacobKinge) <a href=\"https:\/\/twitter.com\/JacobKinge\/status\/1884272125248430130?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 28, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Similarly, authorities in the UK, Japan, and Germany have issued warnings or taken action against the platform for operating without proper licenses.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/exchanges\/best-binance-alternatives\/\" rel=\"bookmark\">5 Best Binance Alternatives in 2025<\/a><\/strong><\/p>\n<h2><strong>\u00a0<\/strong><strong>\u201cDeeply Dissapointed,\u201d The Company Says\u00a0 \u00a0\u00a0<\/strong><\/h2>\n<p>\u201cBinance fully denies the allegations and will vigorously fight any charges made against it,\u201d the company said. The company added that the matter was \u201cseveral years old.\u201d<\/p>\n<p><span style=\"font-weight: 400\">French authorities are investigating Binance for alleged \u201cacts of aggravated money laundering\u201d and unregistered provision of digital asset services. <\/span><span style=\"font-weight: 400\">The probe is being led by the specialized financial crime unit of France\u2019s public prosecutor\u2019s office in Paris. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Authorities suspect that the company may have facilitated illicit financial flows by failing to implement robust AML measures.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The investigation reportedly centers on whether Binance allowed transactions linked to criminal activities such as tax fraud, drug trafficking, and other forms of organized crime. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, regulators are scrutinizing whether the platform operated in France without proper registration under local laws governing digital asset service providers (DASPs).<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/ex-binance-senior-employee-sues-uk-arm-alleges-bribery-and-unfair-dismissal\/\" rel=\"bookmark\">Ex-Binance Senior Employee Sues UK Arm, Alleges Bribery And Unfair Dismissal<\/a><\/strong><\/p>\n<h2 class=\"page-title\">Binance Named In India\u2019s $97 Million Crypto Tax Probe<\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Indian Government Cracks Down on Crypto Tax Evasion <\/p>\n<p>\u2013 Major exchanges like Binance and <a href=\"https:\/\/twitter.com\/hashtag\/WazirX?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#WazirX<\/a> owe \u20b9824 crore (that&#8217;s $97 Million !) in unpaid GST. <br \/>\u2013 Other Exchanges that being investigated : CoinDCX and CoinSwitch Kuber <a href=\"https:\/\/twitter.com\/hashtag\/CryptoTax?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#CryptoTax<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/India?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#India<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Binance<\/a> <a href=\"https:\/\/t.co\/9aSr27U8uH\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/9aSr27U8uH<\/a><\/p>\n<p>\u2014 Chad All-In Top Daily Crypto News (@Chad_allin) <a href=\"https:\/\/twitter.com\/Chad_allin\/status\/1864322163161104890?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">December 4, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Last year, Binance was been<a href=\"https:\/\/x.com\/financemagnates\/status\/1864326930473861582\" target=\"_blank\" rel=\"nofollow noopener nofollow\">\u00a0named<\/a> in India\u2019s tax investigation concerning alleged tax evasion amounting to $97 million, according to a statement by Minister of State for Finance Pankaj Chaudhary in Parliament.<\/p>\n<p>The investigation stemmed from the Indian government\u2019s intensified efforts to regulate and tax the cryptocurrency sector.<\/p>\n<p>In fact, the Indian Directorate General of GST Intelligence (DGGI) has been actively probing various cryptocurrency exchanges to ensure compliance with the Goods and Services Tax (GST) regulations.<\/p>\n<p>The report alleges that the company was involved in activities that resulted in significant tax discrepancies.<\/p>\n<p>Moreover, in December 2024, Cambodia\u00a0 blocked access to 16 major crypto exchanges, including global giants Binance, Coinbase, and OKX. The crackdown, enforced by the Telecommunication Regulator of Cambodia (TRC) restricts access to 102 domains, primarily tied to online gambling and unlicensed crypto activities.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/wazirx-binance-named-in-indias-97-million-crypto-tax-probe\/\" rel=\"bookmark\">WazirX, Binance Named In India\u2019s $97 Million Crypto Tax Probe<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/binance-under-scrutiny-as-france-starts-investigation-for-fraud\/\">Binance Under Scrutiny As France Starts Investigation For Fraud<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to a Reuters report dated 28 January 2025, French investigators have opened a formal probe into Binance. The world\u2019s largest crypto exchange is facing charges over allegations of money laundering.\u00a0 However, this isn\u2019t the first time the company is under fire. It has faced scrutiny for alleged non-compliance with local laws In 2021, Binance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10297","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10297"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10297\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}