Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider

Cryptocurrency exchange Binance has received regulatory approval from the French financial regulator to operate as a registered digital asset service provider. “Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the exchange said.

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).

The exchange wrote:

Binance is now a fully regulated digital asset service provider in France.

The French arm of Binance is now listed as a registered digital asset service provider on the AMF website. Specifically, the exchange is permitted to provide exchange and custody services for digital assets.

Binance explained that this is its first DASP in 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:

Effective regulation is essential for the mainstream adoption of cryptocurrency.

“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? Let us know in the comments section below.