Binance has registered its services with the dual regulatory structure in France, which includes the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
After a year of heavy regulatory scrutiny, the new approval will help the crypto giant in boosting its operational plans across the European continent.
The new license allows Binance to offer regulated services under legislation governing operations of digital asset service providers (DASPs), namely France’s PACTE law, one of the first crypto legislative packages passed in Europe.
The world’s largest cryptocurrency exchange by trading volume has been already on the hunt for new headquarters in France. For this purpose, they financed a 100 million euro initiative together with a local nonprofit entity to support the blockchain and cryptocurrency sector in France.
Binance France has secured a digital asset service provider registration, which enables its Paris-based business to offer trading and custody services for cryptocurrencies on its platform. It also helps boost Binance’s ambitions in Europe after it has been on shaky ground last year, with regulators in the UK and elsewhere putting the exchange under intense scrutiny.
Changpeng Zhao (CZ), founder and CEO of Binance, said: “Effective regulation is essential for the mainstream adoption of cryptocurrency.…
