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.”
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. https://t.co/jKojzKZ4kI pic.twitter.com/dKAywxa2l7
— Wu Blockchain (@WuBlockchain) May 4, 2022
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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