The Paris prosecutor’s office said on Friday that Binance is under preliminary investigation for illegal canvassing of clients and money laundering, the latest in a series of setbacks for the world’s largest crypto exchange.

The prosecutor’s office said in a statement that the investigation is about “unauthorized practice of the profession of a virtual asset service provider” and “aggravated money laundering.”

A Binance spokesperson said Binance had a “site visit last week by the relevant authorities” in France. The exchange was “fully cooperative and we fulfilled our obligations accordingly,” he said.

“Information about our customers is held securely and provided to government officials only upon receipt of documented, proper justification,” the spokesperson added.

Binance and its CEO Changpeng Zhao were charged by the US Securities and Exchange Commission (SEC) with 13 crimes last week, including operating an unregistered securities exchange and failing to restrict US users from its platform. Binance disputes SEC charges.

Zhao, a billionaire who is one of crypto’s most powerful figures, tweeted on Friday in response to a news report on the French investigation, “FUD” – crypto jargon for news that is perceived as negative. “This is not ‘news,'” Zhao wrote.

In May last year, Binance said it had registered with France’s market regulator, adding that it was looking to open a regional headquarters in France.

A group of French crypto investors filed a criminal complaint against Binance in December, accusing it of misleading the public and promoting its services before it was legally allowed to do so.

Earlier on Friday, the company said it was leaving the Dutch market because it failed to meet registration requirements to operate as a virtual asset service provider.

Elsewhere in Europe, Binance has applied to be removed from Cyprus’s register of crypto-asset service providers.

Binance UK unit, Binance Markets Limited, was also asked to be removed from the UK equivalent Financial Conduct Authority (FCA) register. The FCA’s website said it was removed on May 30, leaving Binance without an authorized entity in the UK.