France is targeting cryptocurrency exchange with widened anti-money laundering checks to determine which will be granted European Union (EU)-wide licensing, Bloomberg reported on Friday.
Conbase (COIN) and Binance are among those exchanges being reviewed, according to the report, which cited people familiar with the matter.
The French Prudential Supervision and Resolution Authority (ACPR) has been conducting site checks since late 2024 and has instructed Binance to strengthen its risk controls.
“Periodic onsite inspections are a standard part of the supervision of regulated entities,” Binance said, according to the report.
Failure to meet the requirements set by ACPR could compromise an exchange’s ability to get a Markets in Crypto Assets (MiCA) license from France, which allows firms to offer services against the whole EU.
Companies have until the end of June next year to obtain said license.
Neither Coinbase, Binance nor the ACPR responded to CoinDesk’s request for comment.
