Legitimate! Binance Officially Cleared to Operate in France

Binance is officially cleared to operate in France. By now binance has become a regulated digital asset service provider in the country.

“We are very pleased to announce that Binance France has been granted registration of a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR),” wrote a statement on the official website. Binance.

This is a milestone achievement as Binance becomes the first DASP in Europe and demonstrates its commitment to being a compliance-first exchange.

It was explained that the AMF regulates and protects the French financial market and ensures financial literacy among investors. Meanwhile, the ACPR is an independent authority that monitors banks and insurance companies in France.

“With the approval and under the supervision of the AMF and ACPR, this DASP registration will enable Binance France to operate in France,” he wrote.

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It was also conveyed that compliance and regulation are important factors for the success of the crypto and blockchain industry.

Additionally, Binance has taken steps to ensure compliance, including creating our international compliance team and advisory board.

It then also actively helps fight fraud and ransomware.

We are pleased that our efforts have borne fruit and met strict French compliance standards to successfully obtain DAS registration.

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Binance Founder and CEO Changpeng Zhao (CZ) said effective regulation is very important for cryptocurrencies.

“Effective regulation is critical to the mainstream adoption of cryptocurrencies. France's DASP and AML/CFT regulations impose strict anti-money laundering and fit and proper requirements to meet the high standards required to be regulated in France," he said.

It also thanks AMF and ACPR for their commitment to innovation that allowed Binance to navigate the entire application process.

“Since day one, Binance has always put its users first and now the crypto community can have more confidence in Binance France as a trusted DASP registered in France,” he said.

As the first major global crypto exchange to register in France, CZ claims to be bringing cryptocurrency education and services to millions of people.

Binance France CEO, David Princay said, Binance France's registration as a DASP is an important milestone for crypto in Europe.

“In particular, the new level 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," he said.

It went on to say that Binance will significantly scale operations in France to make its services more accessible to everyone.

In line with its mission to be the infrastructure service provider for the blockchain ecosystem, Binance has plans to expand our team to pursue further infrastructure development.