{"id":17088,"date":"2025-10-17T14:12:43","date_gmt":"2025-10-17T12:12:43","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=17088"},"modified":"2025-10-17T14:12:43","modified_gmt":"2025-10-17T12:12:43","slug":"france-probes-binances-compliance-with-anti-money-laundering-regulations","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/10\/17\/france-probes-binances-compliance-with-anti-money-laundering-regulations\/","title":{"rendered":"France Probes Binance’s Compliance with Anti-Money Laundering Regulations"},"content":{"rendered":"

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Update (Oct. 17, 2025, at 11:00 am UTC): This article has been revised to include remarks from a Binance representative.<\/p>\n

France\u2019s financial regulator is carrying out supplementary Anti-Money Laundering (AML) evaluations on Binance and other digital asset exchanges, as Paris advocates for enhanced control over Europe\u2019s cryptocurrency sector under the Markets in Crypto-Assets Regulation (MiCA).<\/p>\n

According<\/a> to a report from Bloomberg last Friday, the French Prudential Supervision and Resolution Authority (ACPR) is assessing the Anti-Money Laundering<\/a> adherence of Binance and \u201cnumerous exchanges.\u201d The report referenced undisclosed sources who claimed the evaluations commenced last year and are confidential.<\/p>\n

The ACPR allegedly directed Binance, in particular, to enhance its risk management measures last year. A Binance representative informed Cointelegraph that \u201ccooperation with the ACPR is a continual element of functioning as an AML-registered entity.\u201d<\/p>\n

The company spokesperson remarked that \u201cinspections are a standard aspect of the ACPR\u2019s regulatory supervision.\u201d The representative also emphasized that \u2014 as highlighted in the reports \u2014 \u201cthe ACPR is undertaking these evaluations across multiple exchanges.\u201d<\/p>\n

These examinations are reportedly intended to confirm that entities adhere to regulations, particularly focusing on AML and Counter-Terrorist Financing (CFT). Following last year\u2019s evaluations, Binance was reportedly urged to bolster its compliance and risk management practices.<\/p>\n

Firms are generally provided several months to rectify shortcomings, commonly by recruiting additional compliance or IT personnel to enhance risk and cybersecurity<\/a> frameworks.<\/p>\n

ACPR Paris offices. Source: <\/em>Wikimedia<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>EU seeks comprehensive crypto oversight as MiCA encounters tensions<\/strong><\/em><\/a><\/p>\n

France escalates its ambitions<\/h2>\n

The renewed examination arises as France indicates a more stringent approach towards the cryptocurrency sector and an eagerness to assume a significant role in European regulation. In mid-September, France cautioned it might pursue blocking cryptocurrency firms<\/a> that operate locally under licenses issued in other European nations.<\/p>\n

At that moment, the French securities regulator, the Autorit\u00e9 des March\u00e9s Financiers (AMF), expressed its concerns regarding potential regulatory gaps resulting from inconsistent standards across the European Union. This could jeopardize the regulatory passporting that the Europe\u2019s Markets in Crypto-Assets Regulation<\/a>, or MiCA, has introduced.<\/p>\n

AMF chair Marie-Anne Barbat-Layani acknowledged<\/a> that this action would constitute a significant breach of confidence in European markets. Nonetheless, she stated that \u201cit\u2019s still an option we keep in reserve.\u201d<\/p>\n

Related: <\/strong><\/em>Santander, Cr\u00e9dit Agricole asset division obtains French crypto custody license<\/strong><\/em><\/a><\/p>\n

France seeks authority over EU crypto<\/h2>\n

Earlier this month, the Bank of France urged the European Union to grant the Paris-based European Securities and Markets Authority (ESMA) jurisdiction over the cryptocurrency industry. The central bank\u2019s governor, Fran\u00e7ois Villeroy de Galhau, warned against scattered oversight.<\/p>\n

Galhau argued that depending on national regulators may result in inconsistent enforcement throughout the EU. The necessity for uniform rule enforcement is particularly urgent as the cryptocurrency industry experiences rapid expansion in the region.<\/p>\n

Magazine: <\/strong><\/em>Telegram CEO cannot depart from France, OpenSea receives Wells notice, and more: Hodler\u2019s Digest, Aug. 25 \u2013 31<\/strong><\/em><\/a><\/p>\n