Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider – Regulation Bitcoin News

French regulator Binance approved cryptocurrency exchange Binance to function as a registered service provider of digital assets. “Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the exchange said.

France’s Binance becomes a fully-regulated crypto exchange

Crypto exchange Binance announced Wednesday that it received approval from the French financial regulator, the Autorité des marchés financiers (AMF), to operate as a registered digital asset service provider (DASP).

This was the exchange’s response:

Binance now offers fully-regulated digital asset services in France.

On the AMF site, Binance’s French affiliate is listed as a registered provider of digital asset services. The exchange can provide custody and exchange services for digital assets.

Binance said that it was the first DASP for Europe. “As the first major global crypto exchange to register in France, we will be able to bring cryptocurrency services and education to millions,” the exchange added.

Binance CEO Changpeng Zhao (CZ) noted: “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.” The executive emphasized:

For cryptocurrency to be mainstream, it is vital that there are effective regulations.

“Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the announcement notes.

What do you think about Binance’s French expansion? Comment below to let us know your thoughts about Binance’s French expansion.

Kevin Helms

Kevin, a student of Austrian Economics and evangelist since 2011, discovered Bitcoin. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.