France’s banking watchdog, ACPR, has launched sweeping anti-money laundering (AML) inspections on over 100 crypto firms, including Binance and Coinbase as it determines which platforms will secure full EU licenses under the upcoming Markets in Crypto-Assets (MiCA) regulation.
According to Bloomberg, on-site reviews began in late 2024, with Binance reportedly ordered to strengthen its risk controls. The inspections assess compliance with France’s PSAN registration standards, especially AML and counter-terrorist financing systems.
So far, only four firms Deblock, GOin, Bitstack, and Credit Agricole-owned CACEIS have received MiCA approval ahead of the June 2026 deadline. Failing to meet ACPR requirements could block companies from passporting operations across the EU.
The move follows calls from France, Italy, and Austria for tighter EU-level oversight of major exchanges amid inconsistent enforcement across member states. Binance, France’s key crypto hub, is already under investigation for alleged money laundering and unlicensed promotions. In 2024, it replaced founder Changpeng Zhao as its French shareholder following his U.S. legal troubles.
ACPR’s reviews often require firms to expand compliance teams and upgrade IT security, with findings shared with France’s Financial Markets Authority (AMF).
Meanwhile, global regulators are tightening scrutiny from AUSTRAC’s audit orders on Binance Australia to potential penalties against OKX in Europe. Yet, France continues to lead in crypto innovation, recently approving the nation’s first tokenized stock exchange, Lightning Stock Exchange (Lise), under the EU’s DLT Pilot Regime.
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