French regulators tighten scrutiny of AML on encryption platforms, Binance is required to strengthen compliance.

PANews, October 17 - According to a report by Bloomberg, the French Prudential Supervision and Resolution Authority (ACPR) is conducting AML/Counter-Terrorism Financing compliance inspections on dozens of crypto service providers registered as PSAN, covering more than one hundred entities, including Binance and Coinhouse. The report states that during last year's on-site inspections, the ACPR requested Binance to strengthen its risk and compliance controls (such as hiring more compliance personnel and improving IT security), and provided a several-month rectification period. The inspection results will be shared with the AMF; failure to rectify as required may affect the company's ability to obtain MiCA cross-EU licensing. French companies must obtain approval by the end of June 2026, and currently only a few institutions (Deblock, GOin, Bitstack, CACEIS) have been approved.