Binance in *deep* 💩

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Oof. French investigators are, like, *totally* not messing around. They’ve launched a full-blown judicial probe into Binance – you know, that massive crypto exchange everyone pretends to understand? Think money laundering, tax fraud, the whole shebang. 💅

This whole frosty vibe between Binance and France? Yeah, it’s not exactly new. Back in ’23, the French government gave them the side-eye with a preliminary investigation – whispers of illegal crypto services and dodgy AML practices. So awkward.

And then, *quelle surprise*, Stéphanie Cabossioras, Binance France’s exec director, peaced out. 👋 One of, like, *ten* executives to ditch in ’23. Stability? Don’t know her.

Fast forward to ’24: Binance got the boot from the French market. Not exactly a glow-up moment. And now? This judicial probe is the cherry on top of the dumpster fire sundae. According to The Block (and a very stressed Binance spokesperson), JUNALCO (the French Public Prosecutor’s Office – fancy!) is turning up the heat. 🔥

Binance, naturally, is all, “We’re *totally* innocent! Look at our shiny AML compliance badges from FinCEN, DOJ, OFAC!” Suuuure, Jan. 🙄

But France isn’t the only one giving Binance the stink eye. The US? Also not impressed. Accusations of violating anti-money laundering laws, sanctions regulations… the usual. CZ (that’s Changpeng Zhao, their ex-CEO, for the uninitiated) is probably sweating a bit right now. 😅

The general consensus? Binance got big *fast* and maybe, just maybe, skipped a few steps on the whole “following the rules” thing. Innovation is great, guys, but maybe don’t break the law while you’re at it? Just a thought.

And it’s not just Binance, babes. Governments everywhere are cracking down on crypto shenanigans. From Europe to Asia, everyone’s getting a taste of regulation. Even KuCoin had to cough up $300 million to the DOJ and wave goodbye to its co-founders. Yikes.

Moral of the story? If you’re a crypto exchange in a heavily regulated market, maybe focus on, you know, *not* getting sued. Just a suggestion. 🤷‍♀️

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2025-01-28 20:13