Via PYMNTS.com, December 20:
Binance is facing a criminal complaint in France for its social media marketing.
Filed by crypto investors, the complaint accuses the crypto exchange of misleading commercial practices and promoting itself before it was registered in the country, Reuters reported Tuesday (Dec. 20).
The filing of a complaint does not necessarily mean that prosecutors will begin an investigation, according to the report.
The complaint said Binance marketed itself on social media platforms before it was officially registered as a digital financial service provider in May, violating a French law that forbids unregistered providers from promotion in the country.
The company has marketed itself globally with the help of volunteers dubbed “Binance Angels,” who promote the exchange on social media, per the report.
Binance did not immediately reply to PYMNTS’ request for comment.
The decision of France’s market regulator, the Autorité des Marchés Financiers (AMF), to register one of Binance’s subsidiaries as a digital assets services company was met by a wave of concern in the country....
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