Binance Secures Approval in France And is Now a Registered Digital Asset Provider

According to a release from France’s capital market regulator, the AMF (Autorité des marchés financiers), the world’s largest cryptocurrency exchange, Binance, has been granted regulatory approval in the country.

Binance is now a registered Digital Asset Service Provider (DASP) in France and is allowed to custody digital assets, facilitate the buying, selling and transferring of these assets, while operating a trading platform.

In a company blog post, Binance notes that it is its first license of this kind in Europe:

“This milestone achievement represents Binance’s first DASP in Europe and demonstrates our commitment to being a compliance-first exchange. “

Changpeng Zhao (CZ), founder and CEO of Binance, said:

Effective regulation is essential for the mainstream adoption of cryptocurrency. The French DASP and AML/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France.

We are grateful to the AMF and ACPR, who demonstrated a commitment to innovation that made it possible for Binance to navigate the entire application process. Since day one, Binance has always put its users first, and now the crypto community can have even further confidence in Binance France as a trusted DASP registered in France.”

David Princay, CEO of Binance France, added:

“The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market, which will be welcomed by users and the community in particular.”

Just recently, in March and April, the exchange received approval to operate in Bahrain, Abu Dhabi and Dubai.

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Author: Peter Siu