French Investor Sues Binance France Alleging Misleading Business Practices and Fraudulent Concealment

As Cointelegraph reported, 15 French investors are suing Binance France and its parent company, Binance, alleging misleading business practices and fraudulent concealment. The plaintiffs claim that Binance violated French law by promoting and distributing cryptocurrency services before obtaining registration from the country’s authorities. Screenshots provided by the lawsuit show Binance’s social media activities before obtaining the license, including a Telegram channel called “Binance French.” The currency is advertised as being backed by the US dollar. Binance France responded to questions about the case, stating that it did not carry out any publicity in France during the period involved, noting that “Telegram groups are global community forums” that allow users to create and join channels voluntarily.