Entrepreneur on France Binance probe: 'France should start with dealing with their crime rates first'

The French National Assembly has enacted stricter licensing laws for new cryptocurrency firms. According to Cointelegraph, these laws require enhanced compliance with anti-money laundering rules, segregated customer funds, and detailed conflict-of-interest disclosures. Critics argue that such measures create unnecessary barriers for emerging crypto businesses and hinder innovation.

A user on X (formerly Twitter), known as Tom Nat0r—a cryptocurrency investor, AI enthusiast, and entrepreneur—expressed his views on the situation. "France should focus on addressing its crime rates before attempting to bring down crypto in every possible way," he said on January 28. Nat0r actively discusses market trends and digital finance online, often focusing on government intervention's impact on financial markets.

Binance was founded in 2017 by Changpeng Zhao and has rapidly become the world's largest cryptocurrency exchange by trading volume. The platform offers various digital asset services such as trading, lending, and staking. To improve compliance and regulatory standing, Binance invested $213 million in 2023—a 35% increase from the previous year—expanding its compliance team and integrating advanced artificial intelligence systems for better monitoring and efficiency, as reported by The Wall Street Journal.