Binance gains Digital Asset Service Provider registration from French regulators

Major crypto exchange Binance today revealed that its French business unit has gained 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).

The AMF provides regulation and protection in the French financial markets and it also ensures financial literacy among nvestors. The ACPR is an independent agency in France which monitors banks and insurance companies. Binance France will be able to operate in France with the DASP registration under the supervision of the two regulatory authorities.

Changpeng Zhao founder and CEO of Binance, commented:

Changpeng Zhao, Binance

Changpeng Zhao
Source: LinkedIn

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.

Zhao added:

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.

Binance has recently partnered with a consortium led by MDI Ventures, Telkom Indonesia’s venture capital unit so that the company can launch a new digital assets exchange in Indonesia.

Read Also: