French authorities are probing Binance for money laundering, tax fraud, drug trafficking and other charges.
Binance told Decrypt in a statement Tuesday that the allegations were "several years old," and that it was "deeply disappointed" to hear it was being taken further.
France's financial judicial investigation service started investigating Binance back in 2023.
Binance confirmed to Decrypt that France's National Jurisdiction for the Fight against Organized Crime (JUNALCO) had taken the decision to refer the case to the French judiciary for further investigation.
Reuters first reported the news. Paris prosecutors said in a statement that they will investigate whether Binance, from 2019-2024, complied with money laundering regulations in France and other countries in Europe.
It added that it was also investigating whether the exchange had broken the law by using promotional videos with influencers before the company was registered in France as a digital asset service provider.
Binance said: "While we do not usually comment on legal proceedings as a matter of policy, Binance fully denies the allegations and will vigorously fight any charges made against it."
Back in 2023, French feds started investigating the exchange for "aggravated money laundering."
Binance is the world’s biggest crypto exchange and has been investigated by authorities in other countries before.
Binance founder and former CEO Changpeng "CZ" Zhao was sentenced to four months in prison last year after pleading guilty to money laundering violations in 2023.
Editor's note: This story was updated to add more context.
Edited by Stacy Elliott