According to Cointelegraph, a spokesperson for Binance said the latest development was a continuation of a legal investigation that began several years ago: "Binance is deeply disappointed to learn that JUNALCO, the Paris branch of the French prosecutor's office, has decided to refer the case, which has been ongoing for several years, to the French judiciary for further investigation." Binance said: "While our policy is generally not to comment on legal proceedings, Binance completely denies these allegations and will resolutely fight any false accusations."