French authorities are investigating Binance, the biggest cryptocurrency exchange in the world, zooming in on the company’s anti-money laundering policies. The investigation comes after the company announced it was leaving the Netherlands after trying unsuccessfully to get a licence from the Dutch central bank. According to the BBC, Binance acknowledged in a statement that French officials had visited its offices the previous week and that it would comply. “We had an on-site visit last week by the relevant authorities. Binance, as always, was fully collaborative, and we met our obligations accordingly. We continue to work closely with regulators and law enforcement agencies on all ongoing compliance requirements to uphold high standards,” a company spokesperson said. In recent years, the trading of cryptocurrencies has grown in popularity among retail and institutional investors. However, due to the extreme price fluctuations of cryptocurrencies, concerns have been raised about the inherent dangers of these assets. To increase transparency, global regulators have mounted pressure on cryptocurrency exchanges. Given that Binance is confronted with difficulties in the United States and Europe, the company enjoys the best of both worlds. The Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC), two financial watchdogs in the US, are suing the exchange because it has been operating there illegally and in violation of laws enacted to protect investors. Additionally, the SEC has charged Changpeng Zhao, the company’s founder, with mishandling client funds. Furthermore, Binance defended its methods, saying a total asset freeze is being avoided by the company’s US operations through current discussions with the SEC. Binance has issued a warning that if a US judge approves the regulator’s request for an asset freezing order, all of its operations will “grind to a halt.” According to the Financial Conduct Authority’s website, Binance Markets Limited, the company’s unit in the UK, was removed from the FCA’s register on May 30 at the company’s request, leaving it without any authorised entities in the country.