France Financial News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Deputy Alfredo Gaspar, a member of the Parliamentary Commission of Inquiry (CPI) of the Financial Pyramids has requested the summoning of Guilherme Haddad, the Director of Binance Brazil, to appear before the Brazilian parliament. 

The Netherlands has welcomed a new equities exchange-traded (ETF) fund that will give investors exposure to a basket of Bitcoin-related company stocks.

Global cryptocurrency exchange Binance announced the launch of a regulated digital asset platform in Kazakhstan amid growing regulatory troubles in the West. The launch of the new platform was announced at a press event on June 20, 2023, in the presence of representatives of Kazakhstan’s banking industry, and Binance Kazakhstan's leadership. 

A French real estate firm has signed a partnership deal with domestic crypto pay provider, an indication that the European nation may be the next to embrace crypto-powered commerce.

France's markets watchdog, the Autorité des Marchés Financiers (AMF), said it fully supports globally coordinated, clear regulation for decentralized finance (DeFi) in order to protect users while fostering the novel and innovative sector's growth. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Troubled cryptocurrency exchange Binance continues to withdraw from major markets amid the ongoing pushback from global regulators.

The cryptocurrency total market capitalization fell to $1.02 trillion on June 15, its lowest level in three months. But while the derivatives market's resilience and end-of-week price gains amid uncertainty in stablecoins' reserves provides hope for bulls, it might be too soon to celebrate.

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Binance, the largest cryptocurrency exchange, is under preliminary investigation by the Paris prosecutors office for both illegal canvassing of clients and aggravated money-laundering, French daily Le Monde reported on Friday. «In France, on-site visits by regulators and inspectors are part of regulatory obligations to which all financial institutions must adhere. We had an on-site visit last week by the relevant authorities,» a Binance spokesperson said.

PARIS — Days before French police visited Binance's Paris office, the crypto exchange's top French executive dismissed concerns about U.S. regulatory charges impacting Binance's other operations, comparing them to the flapping of a butterfly's wings.

Binance is under investigation by French authorities for “acts of aggravated money laundering,” an official for the Paris public prosecutor’s office told Bloomberg. 

Cryptocurrency exchange Binance said it will leave the Netherlands after the company's application to register under the Dutch crypto authorization regime was rejected.

The company has failed in its bid to secure a virtual asset service provider (VASP) license in the Netherlands.It is not accepting new users with immediate effect and, from 17 July, existing users will not be able to make purchases, trades or deposits.Binance stresses that it is already compliant with EU standards on the prevention of money laundering and financing of terrorism as evidenced by its registrations in other EU countries, including France, Italy, Spain, Poland, Sweden and Lithuania.However, according to CoinDesk, it is facing money laundering troubles in France, where the authorities are investigating the firm.The probe relates to Binance potentially illegally operating as a digital asset service provider before it received regulatory approval last May.In addition, prosecutors tell CoinDesk, the investigation concerns possible "aggravated money laundering by taking part in investment operations, concealment and conversion, the latter being carried out by perpetrators of offenses having generated profits".In the US, the SEC has sued Binance and its CEO Changpeng Zhao, alleging a host of securities law violations and accusing the world's largest crypto exchange of engaging in an "extensive web of deception".

The legal troubles for world's leading crypto exchange Binance continue to mount as new reports suggest the exchange has been reportedly under investigation in France since early last year.

Bitcoin (BTC) recovered some lost ground on June 16 as markets shook off mixed United States macro signals.

A proposed Securities and Exchange Commission rule would shut down the development of the digital asset industry and should be withdrawn, House Republicans said. 

Cyprus unit has applied to be removed from Cyprus' register of crypto asset service providers, the securities regulator website showed on Wednesday, in a move Binance said would allow it to focus on its larger European businesses. It was unclear when Binance applied to deregister. The exchange, the world's biggest, announced its registration with the Cyprus Securities and Exchange Commission in October 2022. A source at the regulator said on Wednesday that Binance never launched its business in Cyprus. The Cyprus registration allowed Binance to offer spot trading, custody and other services in compliance with Cyprus's anti-money laundering and counter-terrorist financing rules, the exchange has previously said on its website. A spokesperson for Binance said it was pulling back on Cyprus to sharpen its focus on its other companies in the European Union ahead of the rollout of the EU's crypto asset regulations (MiCA).

The Belgian arm of the French fast food chain Black & White Burger has announced that all its stores in the nation will accept crypto payments.