Binance, the world’s largest cryptocurrency exchange, announced on Thursday that the Cypriot financial regulator had granted it regulatory authorization to operate as a Crypto Asset Services Provider (CASP).
Cyprus is now the fourth European country (after France, Italy, and Spain) to grant Binance regulatory approval.
Binance was able to obtain a license from the Cyprus Securities and Exchange Commission (SEC) to offer its services per the country’s rules against money laundering and terrorism financing.
Changpeng Zhao (CZ), CEO and founder of Binance, has claimed that the company has some of the most thorough AML and CTF compliance policies in the industry.
According to him, “Recognition of the efforts we have made to be on the leading edge of compliance that our registration in Cyprus represents is a testament to that. Effective regulation that protects users and stimulates innovation is essential to the continued growth of our industry.”
Binance is rapidly expanding its global reach, with New Zealand becoming the most recent country to grant the platform operational approval in October.
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