Binance, a notable cryptocurrency exchange, has been granted a license by the French financial regulators to operate as a digital asset service provider in the country.
With this accreditation, Binance will be able to improve its services in the region and better serve its customers.
Binance has recently been engaging with several countries’ regulators to obtain the necessary permissions to operate in their regions.
On Wednesday, the crypto exchange announced on its blog that the Autorité des marchés financiers (AMF), France’s financial regulator, had granted them a license to offer services attributed to a registered digital asset service provider (DASP).
Binance has its French division, structured to comply with government regulations. It has been added to the list of DASPs on the official regulator’s website as a result of the approval.
The CEO of Binance, Changpeng Zhao (CZ), stated, “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. “
Binance has recently expressed an interest in implementing policies that are consistent with the regulations of different countries around the world, particularly in the context of Know Your Customer (KYC) processes and Anti-Money Laundering (AML).
David Princay, CEO of Binance France, stated, “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. “
If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools”
