French investigators said on Tuesday they had opened a judicial probe into money laundering, tax fraud and other charges at Binance, the world's largest cryptocurrency exchange, which said it denied the allegations.

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French authorities are investigating Binance for money laundering and other crimes; the crypto exchange denies the allegations.

The world's largest crypto exchange by trading volume is facing a new investigation into what the company calls "old" allegations in France.

Binance came under preliminary investigation by the Paris prosecutor's office for illegal canvassing of clients and "aggravated money-laundering." However, the crypt