Changpeng Zhao, alongside another company spokesperson, refuted the recent reports from French media that Binance was under investigation in the country for alleged money laundering.
The company&#8217;s CEO explained that such &#8220;surprise inspections&#8221; are the norm in the European country for both banks and now crypto businesses.
<ul>
<li>According to the <a href="https://www.lemonde.fr/pixels/article/2023/06/16/binance-principale-plate-forme-mondiale-d-echange-de-cryptomonnaies-visee-par-une-enquete-en-france_6177876_4408996.html" data-wpel-link="external" target="_blank">report</a> from local media Le Monde, Binance has gone under the scope of the French authorities for failing in its anti-money laundering obligations as well as canvassing local customers before receiving its regulatory license.</li>
</ul>
<blockquote>&#8220;The investigation is about, on one hand, the unauthorized practice of the profession of virtual assets service provider, and, on the other, about aggravated money-laundering,&#8221; &#8211; reads a statement seen by Le Monde.</blockquote>
<ul>
<li>In his typical style, Binance&#8217;s CEO &#8211; Changpeng Zhao &#8211; posted the well-known &#8220;4&#8221; on Twitter, suggesting the latest developments are yet more fake and sensational news targeting his company.</li>
<li>He explained that such &#8220;no advance notice on-site inspections of regulated businesses are the norm, for banks, and now for crypto, too.&#8221;</li>
</ul>
<blockquote class="twitter-tweet">
4. FUD.
In France, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too.
The surprise visit for Binance France happened a couple of weeks ago. It&#8217;s not &#8220;news&#8221;. Binance France cooperated fully.
Binance also… <a href="https://t.co/xdbLc5jXBW" data-wpel-link="external" target="_blank">https://t.co/xdbLc5jXBW</a>
— CZ <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" alt="🔶" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1669690219329716224?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">June 16, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<ul>
<li>The other massage coming from the official Binance Twitter channel said the company had such an on-site visit last week. However, Binance continues to be &#8220;fully collaborative&#8221; with the relevant authorities.</li>
<li>The company has been put under the scope of US watchdogs as the SEC filed a lawsuit against it last week. More recently, the firm had to <a href="https://cryptopotato.com/binance-exits-netherlands-after-failing-to-secure-vasp-license/" data-wpel-link="internal">wind down</a> its business operations in The Netherlands after failing to secure the needed license.</li>
</ul>
The post <a href="https://cryptopotato.com/cz-refutes-reports-that-binances-french-branch-was-under-investigation/" rel="nofollow">CZ Refutes Reports That Binance&#8217;s French Branch Was Under Investigation</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

CZ Refutes Reports That Binance’s French Branch Was Under Investigation

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