15 investors have commenced legal action against Binance France and Binance Holdings Limited in France on 14 December, accusing the companies of misleading commercial practices and fraudulent concealment. The investors alleged that Binance had begun advertising and distributing crypto services before getting the license from the country’s financial market regulator. They also complained that they have lost over 2.4 million euros as a result of the TerraUSD (UST) collapse, while Binance was advertising the token as United States dollar-backed. Binance France denied any promotional communications conducted in the country during the alleged period.

Source: https://cointelegraph.com