Binance’s rise to the pinnacle of global cryptocurrency exchanges has been wrought with legal challenges, multibillion-dollar fines and the arrest of its co-founder. Just when it appeared that the dust was settling,

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.

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