France investigates Binance over money-laundering, canvassing breaches

FILE PHOTO: A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

PARIS (Reuters) -Binance is under preliminary investigation for illegal canvassing of clients and money-laundering, the Paris prosecutor's office said on Friday, the latest in a series of setbacks for the world's largest crypto exchange.

The investigation is about "the unauthorised practice of the profession of virtual assets service provider" and "aggravated money-laundering," the prosecutor's office said in a statement.