France is targeting cryptocurrency exchanges by expanding anti-money laundering controls to determine which ones will benefit from a European Union (EU)-wide license, Bloomberg reported on Friday.
Conbase (COIN) and Binance are among the exchanges under review, according to the report, which cited people familiar with the matter.
The French Prudential Supervision and Resolution Authority (ACPR) has been carrying out on-site checks since the end of 2024 and has asked Binance to strengthen its risk controls.
Failure to comply with the requirements set by the ACPR could compromise an exchange’s ability to obtain a French Crypto Asset Markets (MiCA) license, which allows companies to offer services across the EU.
Companies have until the end of June next year to obtain this license.
“Engagement with the ACPR is an ongoing component of operating an anti-money laundering registered company and anti-money laundering framework reviews are an integral part of the ACPR’s regulatory oversight,” a Binance spokesperson said in an emailed comment. “The ACPR carries out these checks on dozens of exchanges, as detailed in its 2024 annual report.”
Neither Coinbase nor ACPR responded to CoinDesk’s request for comment.
UPDATE (October 17, 4:10 p.m. UTC): Adds a comment sent via email from Binance.
