There’s really no escaping this, even if regulators are only looking at past transactions. Binance better have a lot of money set aside because more countries will likely follow suit. Even in the Philippines, Binance is already banned, though I’m not sure if the Philippine government will also go after them for a monetary settlement like the U.S. and France.

With all these cases, one thing is clear, the governments believe Binance is so liquid that it can afford to pay whatever settlement they demand. That’s why they’re being targeted. But if this leads to criminal charges, is there a chance CZ could be jailed again? This is a different country, so it would be another legal battle for him to face.

When there is a bad precedent, it creates space for more similar things, and we know many nations globally are following the USA in many things. Regulations for example, started in the USA against Binance, then other nations followed it.

Before France, months ago Nigeria tried to put two Binance staffs in jail temporarily for blackmailing money from Binance. Their reason is funny and unreasonable that Binance destroyed their national currency Naira.

France with their action to arrest Pavel Durov, the founder of Telegram, shows that they can do severe regulation for their national benefit.

Sure after The USA, France there will be more countries want to milk money from Binance.

Don't mind the governments, they're just crooks and oppressors operating in legal combats.
All regulatory authority eyes are getting vested in every crypto platforms with their alleged allegations of frauds.
This is also how my country Nigerian government accused binance of being indulged of manipulating our local currency Naira (#) to be devalued with the foreign exchanges, they accused binance of scamming pointlessly with no evidence provided, binance was fined for damage of pointless violation by the government, the government banned the facilitation of bitcoin and other cryptocurrencies in the country Nigerian and also arrested 3 binance officials who where later charged to court with the justice of "not guilty".
I'm not against them fighting against the fraudulent acts within the crypto because it'd contribute to scamper incoming and existed scamming platforms around the industry so crypto scamming exercises around bitcoin and cryptocurrencies can me minimized but it's alarming about the government channeling the economy fraudulent cases on the crypto industry.

Crypto laws in most countries are too complicated and complex that it will become very difficult to obey. Sometimes it is assumed by some crypto industry players that these laws are designed not just to protect citizens from fraud but to milk them through fines. The laws are also targeted at making these firms to be fully under the surveillance of the government. If they keep on using Binance as a cash cow, the exchange might soon declare bankruptcy and customers' funds will be in danger. Let's see how the investigation will end.

Well, that's how impactful it is when governments get involved into crypto. Governments will want 100% KYC coverage from all crypto exchanges and failure to do so, will attract a fine worth billions of dollars. That's the future to be honest!

Seriously I am ready to go back to that regime where crypto used to be a less known currency system growing parallely with the mainstream economy. At least our money was safe with us and no one used to put their evil eye on it.

When you say maybe even more do you mean a trillion dollar settlement? Lol. By the way it would be hard to find a flawless exchange after investigating them.
I can speak for or against binance but there has been lots of complaints from binance users against the platform and how easily they can seize the funds of their users, all this coupled with the hack attacks on the platform here and there.
Although some other part of be feel that some of this country are carrying out a vendetta against the binance CEO and platform in general.

I don't think this is a case of every country trying to milk binance, rather it is about binance failing to fully comply with regulators and follow their laws and regulations. They paid ~ $4.3 billion in a plea deal with the U.S. doj, in this case their representative who has replied so far denies the allegations and says they are going to 'fight' it, does that send any signal that there won't be any plea deal agreed this time around.

Binance and CEXs have been milking people for years. They are charging people 0.1% fee on each trade, that's ridiculously high amount because there are millions of trades done daily. That's why these exchanges are so rich and capable to pay billion dollar fines.

Of course Binance always fails to comply with regulators and they regularly break the law but I think that countries really try to milk it. What were they doing till 2024? All of a sudden, every country decided that Binance breaks the law and they should pay charges while they could do it in 2020, 2021, 2022 and 2023.
In the US, I think that the reason mostly was Bitcoin ETF approval cause these companies don't want Binance as their competitor.

Since they’re investigating past transactions, it’s pretty obvious that they’ll uncover a lot of violations. If I’m not mistaken, Binance was already found guilty in the U.S. for similar issues in their past operations. So for sure, their operations in other countries weren’t that different, and most likely, it’s the same story all over again, just with a different country and a different penalty amount that Binance will have to pay.

It's sad to see that, there was almost none regulation in 2019, in France and Europe, so I don't really understand what they are looking for to be honest. Maybe you're right, they are just looking for money from a big platforms who earned billions of dollars in few years. It's easier to take money like this than thinking about how to avoid wasting it sadly, and french administration seems to not want to make efforts unfortunately.