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• The crypto exchange gets DASP registration by the French stock market watchdog AMF
Binance has been granted approval to operate in France, allowing the cryptocurrency exchange to offer trading and custody services for bitcoin and other cryptocurrencies.
The world’s largest crypto exchange has been provided digital asset service provider (DASP) registration by the French stock market watchdog AMF on Wednesday.
“Compliance and regulation are critical factors for the success of the crypto and blockchain industry. Over the years, Binance has taken measures to ensure compliance, including growing our international compliance team and advisory board, as well as actively helping to fight fraud and ransomware,” the company said.
“We are pleased that our efforts have paid off, and meet stringent French compliance standards to successfully obtain the DASP registration.”
France becomes the first major European nation to give Binance the approval.
“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,” said founder and CEO, Changpeng Zhao.
Picture Credits: Getty Images
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