France turns up the heat on Binance and rivals amid EU power struggle

France’s banking regulator, the ACPR, is conducting confidential, ongoing Anti-Money Laundering (AML) checks on Binance and dozens of other crypto exchanges, which reportedly began last year and resulted in Binance being asked to strengthen its risk controls. This heightened scrutiny coincides with France actively lobbying for a more dominant role in European crypto regulation under the forthcoming Markets in Crypto-Assets Regulation (MiCA). Specifically, the Bank of France has urged the EU to grant the Paris-based European Securities and Markets Authority (ESMA) centralized control over the crypto industry to prevent fragmented oversight and uneven enforcement across member states. This regulatory assertiveness follows earlier warnings from the French securities regulator (AMF) about potentially blocking companies licensed elsewhere in the EU if unequal standards undermine MiCA's passporting system.

(Source：Cointelegraph)