TLDR
- ACPR increases AML checks on Coinbase and Binance for EU MiCA licensing.
- Binance is instructed to enhance risk controls to meet ACPR standards.
- Exchanges have until June 2026 to secure a MiCA license for EU operations.
- Failing to meet ACPR requirements could block EU access for top exchanges.
France’s financial regulator, the Prudential Supervision and Resolution Authority (ACPR), has intensified its anti-money laundering (AML) checks on cryptocurrency exchanges, including major players like Coinbase and Binance. These checks are crucial for the exchanges’ bids to secure the Markets in Crypto Assets (MiCA) license, which would allow them to operate across the European Union. Exchanges have until June 2026 to meet regulatory standards or risk losing access to the EU market.
ACPR’s Expanded AML Review Process
The ACPR’s move comes as part of its ongoing efforts to ensure that cryptocurrency exchanges comply with stringent anti-money laundering regulations. Since late 2024, the regulator has been conducting on-site inspections of various platforms.
These inspections focus on assessing the exchanges’ risk management systems and their ability to detect and prevent financial crimes such as money laundering and terrorism financing. The increased scrutiny follows the French government’s commitment to establishing robust controls within the crypto sector.
Binance and Coinbase, two of the largest cryptocurrency exchanges in the world, have been included in this widened review. Both companies are under pressure to enhance their compliance mechanisms, especially in light of the upcoming MiCA license deadline. MiCA aims to provide a unified regulatory framework for crypto firms across the EU, but only exchanges that meet the necessary compliance standards will be granted the license.
Consequences for Non-Compliance
Failure to meet the ACPR’s requirements could have significant consequences for cryptocurrency exchanges operating in France and, by extension, the entire EU. If an exchange fails to secure a MiCA license, it would not be permitted to offer its services across the European Union. This would not only affect their customer base but could also result in substantial financial losses and damage to their reputation within the crypto community.
A Binance spokesperson commented on the matter, stating that “engagement with the ACPR is a routine part of operating as an AML-registered company.” The spokesperson also pointed out that the ACPR is conducting checks across several exchanges, as outlined in their 2024 annual report. Binance has assured that it is working closely with the regulator to strengthen its internal risk controls.
Coinbase and Binance: Preparing for the MiCA License Deadline
Coinbase and Binance are two of the most prominent exchanges affected by these AML checks. As global leaders in the cryptocurrency market, both companies have significant stakes in securing the MiCA license. The deadline for obtaining this license is June 2026, giving exchanges a limited window to meet the ACPR’s expectations.
Coinbase has yet to provide detailed comments on its involvement in the ACPR’s expanded review. However, it has emphasized its commitment to adhering to international regulations and maintaining a transparent compliance framework. As one of the most recognized crypto platforms in the world, Coinbase’s ability to navigate these regulatory hurdles is crucial for its continued success in the European market.
Strengthening Compliance Measures Across the Industry
The ongoing inspections are part of a broader trend toward tighter regulation of the cryptocurrency industry in Europe. Regulators are placing increasing emphasis on anti-money laundering compliance to protect consumers and maintain the integrity of the financial system. Many exchanges are now investing heavily in strengthening their compliance teams, upgrading their risk management systems, and ensuring that their operations align with European Union regulations.
The outcome of these checks will have wide-ranging effects on the cryptocurrency market in Europe. Exchanges that fail to meet the ACPR’s requirements risk losing access to the EU, a market that has become a key battleground for crypto firms. Therefore, it is in the best interest of Coinbase, Binance, and other exchanges to act swiftly to meet the evolving regulatory landscape.
In summary, the ACPR’s widened AML checks are a critical step in determining which exchanges will be allowed to operate within the EU under the MiCA framework. With the June 2026 deadline approaching, exchanges like Coinbase and Binance must ensure that they comply with the new regulatory standards to maintain their European presence.
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Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
