Jamie Warm, Vice President of Bitcoin Strategy at Leef Brands, has criticized France's actions as a "war against freedom and liberty" in response to the ongoing investigation into Binance for alleged money laundering and tax fraud. Warm expressed his views on X on January 28.
"France is waging war against freedom and liberty at the moment," said Warm, VP of Bitcoin Strategy.
According to Cointelegraph, French authorities have initiated a judicial investigation into Binance over these allegations. Binance has denied the accusations, emphasizing its advancements in anti-money laundering (AML) compliance, Know-Your-Customer (KYC) protocols, and regulatory cooperation.
Warm's X post
| https://x.com/JamieWarm/status/1884315852042105139
In a related context within traditional finance, HSBC was implicated in 2012 for allowing drug cartels and sanctioned countries to transfer billions through its banking system, violating AML regulations. A U.S. Senate investigation found that HSBC failed to implement adequate controls, facilitating illicit transactions over several years. The U.S. Department of Justice reached a deferred prosecution agreement with HSBC, resulting in a $1.92 billion fine without criminal charges against individuals involved, according to Senator Grassley.
Amidst this scrutiny of Binance, the French Senate has approved the 2025 budget that includes an "unproductive wealth" tax on digital assets like Bitcoin. As per the Senate website, this measure would impose an annual tax on unrealized cryptocurrency gains, taxing holders on increased asset value even if unsold.
Warm is not only associated with Leef Brands but also founded Zaki Properties, a real estate company. He advocates for Bitcoin in the medical herb industry and regularly shares insights on digital assets and economic policy. Warm joined X in January 2015 and actively engages with followers interested in Bitcoin and financial matters.
Binance is a global cryptocurrency exchange offering services such as trading and futures. In 2024, it launched the Anti-Scam Refund Initiative aimed at recovering funds for scam victims and preventing potential losses through AI-powered risk management and collaboration with law enforcement.