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Binance Approved to Offer Cryptocurrency Trading Services in France

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Binance continues to expand its operations across various parts of the world. 

World’s largest cryptocurrency exchange by trade volume has been approved by the French financial regulator The Autorité des marchés financiers (AMF), to become a digital asset provider in the country.

With the recent development, Binance has officially become a digital asset provider (PSAN) in France, and the exchange will be allowed to provide a range of services going forward.

Some of the services Binance is authorized to carry out include providing safe custody of digital assets, buying and selling digital currencies in exchange for fiat, the exchange of one digital currency for another, as well as functioning as a cryptocurrency trading platform for French residents.

The development was announced by popular cryptocurrency media outlet Wu Blockchain, saying:

“Breaking: On May 4, Binance was approved by the French financial regulator AMF to become a digital asset service provider (PSAN), capable of providing digital asset custody, services, transactions, platforms and other functions.”

Binance Focus on Obtaining Regulatory Approval

Recall that for the most part last year, Binance was slammed with stringent regulatory scrutiny for operating in countries where it lacks the necessary approval. 

Iran and Italy were among the countries that announced that Binance is unauthorized to operate in their respective regions

Following the issues that arose last year, Binance has opted to obtain regulatory approval in countries where its services are offered.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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