Binance among crypto firms targeted in France’s expanded AML inspections

French authorities, including the prudential regulator ACPR and the markets regulator AMF, are conducting expanded anti-money laundering (AML) compliance inspections on crypto exchanges operating in France, with Binance specifically being asked to strengthen its risk management and compliance controls. These efforts are crucial as they ensure crypto exchanges meet EU-level AML and counter-terrorist financing requirements necessary for obtaining MiCA authorization. Companies found deficient are given time to fix issues, but failure to comply risks penalties or disqualification from the MiCA licensing process required for EU operations.

(Source：Crypto Briefing)