Majority of Respondents (66%) Concerned About French Authorities Allegations of Money Laundering Against Binance

The French authorities have launched an investigation into money laundering allegations against Binance following Binance’s departure from the Netherlands.

The probe comes amid increasing regulatory scrutiny of the company worldwide. Binance’s exit from the Netherlands was due to its failure to obtain an operating license. The investigation underscores the ongoing challenges faced by Binance in navigating regulatory landscapes.

According to Real Research’s survey on Binance’s exit from the Netherlands and probe in France, the survey on Binance’s exit from the Netherlands was aimed to capture public sentiment and perception about these events, shedding light on how investors and stakeholders view the situation and its potential implications.

Highlights:

• 45.22% believe allegations against Binance would significantly impact the crypto market.
• More than half (55.66%) believe crypto exchanges like Binance should be more transparent.
• The majority (67.93%) of respondents were aware of Binance undergoing investigation in France.

Based on the findings, most respondents were aware that Binance, the cryptocurrency exchange, had failed to obtain a license and was currently under investigation by the French authorities. The following figure illustrates the respondents’ distribution based on their awareness level. 33% of the respondents were well aware of Binance’s situation, while 35% were vaguely aware, and 32% were unaware.

Subsequently, the survey poll inquired about the respondents’ level of concern regarding the allegations of money laundering directed towards Binance. The results were: 40% were somewhat concerned, 26% were extremely concerned, and 29% remained uncertain. On the other hand, 3% were not very concerned and 1% were not concerned at all.

Read Also: SEC’s Lawsuit Against Binance Would Affect (43%) Respondents’ Trust and Confidence

Public Sentiment: Potential Impact of Proven Money Laundering Allegations Against Binance

According to the survey, when asked about their feelings if the money laundering allegations against Binance were substantiated, 32% of respondents expressed extreme disappointment, while 30% felt somewhat disappointed. Additionally, 32% of participants remained neutral on the matter. In contrast, 5% indicated they were not very disappointed, and 1% stated they were not disappointed at all.

Moreover, the survey asked the surveyees whether Binance’s exit from the Netherlands and the French investigation would significantly impact the crypto market. The results revealed that nearly half of the respondents (45%) believed it would impact the crypto market, 23% thought it wouldn’t, and 31% remained uncertain.

Read Also: Most (67%) Believe Lawsuit Against Binance is a Political Move

Importance of Transparency in Crypto Exchanges

Similarly, in addition to the difficulties faced in obtaining a license in the Netherlands, resulting in Binance’s exit from the the country, the exchange also encountered challenges in securing a license in Canada.

The survey sought to gauge the respondents’ awareness of this situation, and the results revealed that 29% were well aware of Binance’s licensing challenges in Canada. Additionally, 34% had a vague understanding of the issue, while 37% remained unaware of the situation.

Furthermore, when the respondents were asked whether Binance would be able to overcome such challenges, 43% said yes, 23% said no, and 34% were unsure.

Lastly, the survey inquired about the importance of transparency for crypto exchanges like Binance. The data indicates that the majority of the respondents (56%) said it is important, compared to 16% who said otherwise. 28% remained uncertain.