Binance is expected to scale its operations in France after Binance France has been granted a Digital Asset Service Provider (DASP) registration by the Autorité des marchés financiers (AMF) with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
This milestone represents Binance’s first DASP in Europe, and most probably Binance will get a similar approval in UK in the short term.
In Their announcement, Changpeng Zhao (CZ), founder and CEO of Binance, said: “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.
We are grateful to the AMF and ACPR, who demonstrated a commitment to innovation that made it possible for Binance to navigate the entire application process. Since day one, Binance has always put its users first, and now the crypto community can have even further confidence in Binance France as a trusted DASP registered in France.”
David Princay, CEO of Binance France, commented: “The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels 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.”
Earlier this year, Binance managed to get 3 licenses in Bahrain, Dubai and Abu Dhabi, showing the drive to move the leading digital assets giant to the regulated environment.