binance faces criminal charges in France for social media marketing.
A complaint filed by a crypto investor accuses the crypto exchange of engaging in misleading business practices and promoting itself before being registered in the country, Reuters report Tuesday (December 20).
The filing of a complaint does not necessarily mean prosecutors will launch an investigation, according to the report.
The complaint alleges that Binance had been pitching on social media platforms before it was officially registered as a digital financial services provider in May, violating a French law banning unregistered providers from advertising in the country. It is said that
According to the report, the company promotes exchanges and pitches globally on social media with the help of volunteers called “Binance Angels.”
Binance did not immediately respond to PYMNTS’ request for comment.
The decision of the French market regulator Autorité des Marchés Financiers (AMF), to register one of Binance’s subsidiaries Digital assets The service company wave of concern in the country.
for example, Aurore L’Arca French member of the European Parliament (MEP) and member of that agency’s committee on economic and monetary affairs, has urged the AMF to reconsider its “incomprehensible” decision to OK Binance. Reported on June 27th.
Recently, efforts have been made to restore public confidence in Binance. crypto exchange Have got proved challenging.
On Friday (December 16th) MazarAn audit firm hired by the platform.
Two days earlier, at a Senate Banking Committee hearing on Wednesday (December 14), both Shark Tank investors Kevin O’Leary and Sen. also questioned.
Binance’s US operations have been under investigation for anti-money laundering (AML) violations since 2018. The U.S. Department of Justice (DOJ) has reportedly rushed a formal submission due to internal disagreements over whether strong enough evidence had been collected, and the sheer size of Binance. We postponed the indictment due to lingering concerns that the part could be inadvertently destabilized. of the crypto ecosystem.
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