France expands AML inspections for Binance and crypto exchanges
France’s financial regulator has widened its anti-money laundering (AML) inspections on crypto exchanges as part of efforts to identify which firms will qualify for European Union-wide licenses under the bloc’s new regulatory framework.
The French prudential supervision and resolution authority (ACPR) has been conducting inspections on dozens of registered digital asset providers since late 2024, according to people familiar with the matter. The review includes major players such as Binance and Coinhouse.
The inspections aim to verify compliance with France’s “PSAN” registration system, which governs how companies apply anti-money laundering and counter-terrorist financing standards. Officials are evaluating whether exchanges have adequate staffing, internal controls, and security systems in place to meet the requirements for authorization under the EU’s Markets in Crypto-Assets (MiCA) regulation.
The inspections aim to verify compliance with France’s “PSAN” registration system, which governs how companies apply anti-money laundering and counter-terrorist financing standards. Officials are evaluating whether exchanges have adequate staffing, internal controls, and security systems in place to meet the requirements for authorization under the EU’s Markets in Crypto-Assets (MiCA) regulation.
During its review, the ACPR reportedly asked Binance to enhance its compliance and risk management systems. The company said in a statement that regular onsite inspections are standard for regulated entities. The ACPR and Coinhouse have not publicly commented on the matter.
The results of these inspections will be shared with the French Financial Markets Authority (AMF), which is responsible for issuing MiCA licenses. Firms that fail to address deficiencies identified by the ACPR risk sanctions or could lose eligibility for EU authorization. Companies operating in France have until June 2026 to obtain MiCA approval.
The expanded checks come as EU regulators debate how supervision should be coordinated across member states. France, Italy, and Austria have called on the European Securities and Markets Authority (ESMA) to directly oversee major crypto firms, citing differences in how countries apply the new rules.
So far, only a few companies have been granted approval under France’s national framework, including fintech firm Deblock, crypto company GOin, bitcoin savings app Bitstack, and CACEIS, a unit of Crédit Agricole.
The results of these inspections will be shared with the French Financial Markets Authority (AMF), which is responsible for issuing MiCA licenses. Firms that fail to address deficiencies identified by the ACPR risk sanctions or could lose eligibility for EU authorization. Companies operating in France have until June 2026 to obtain MiCA approval.
The expanded checks come as EU regulators debate how supervision should be coordinated across member states. France, Italy, and Austria have called on the European Securities and Markets Authority (ESMA) to directly oversee major crypto firms, citing differences in how countries apply the new rules.
So far, only a few companies have been granted approval under France’s national framework, including fintech firm Deblock, crypto company GOin, bitcoin savings app Bitstack, and CACEIS, a unit of Crédit Agricole.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
