French regulator ACPR is auditing Binance and other exchanges as Paris seeks a greater role in enforcing MiCA rules across Europe.
France’s banking regulator is conducting additional Anti-Money Laundering (AML) checks on Binance and other cryptocurrency exchanges, as Paris lobbies for more authority over Europe’s crypto industry under the Markets in Crypto-Assets Regulation (MiCA).
According to a Friday Bloomberg report, the French Prudential Supervision and Resolution Authority (ACPR) is checking the Anti-Money Laundering compliance of Binance and “dozens of exchanges.” The report cited anonymous sources who noted that the checks started last year and are confidential.
The ACPR reportedly instructed Binance, in particular, to strengthen its risk controls last year. Binance had not responded to Cointelegraph’s request for comment by publication. Still, Bloomberg cited an exchange representative saying that “periodic onsite inspections are a standard part of the supervision of regulated entities.”
