With the consent of the Autorité de Contrôle Prudentel et de Résolution (ACPPR), Binance France has been given a Digital Asset Service Provider (DASP) registration by the Autorité des marchés financiers (AMF) (ACPR).
Binance’s first DASP in Europe underlines our dedication to being a compliance-first exchange, and this milestone achievement is a testament to that.
The AMF is in charge of overseeing and protecting the French financial markets, as well as ensuring that investors are well-versed in financial matters. An independent body in France, the ACPR, keeps an eye on the country’s banks and insurance businesses. Binance France will be able to operate in France with the consent and supervision of the AMF and ACPR after this DASP registration.
The viability of the crypto and blockchain sector hinges on the ability of businesses to adhere to regulations and adhere to regulations. For years, Binance has taken steps to assure compliance by expanding our international compliance staff and advisory board as well as participating in anti-fraud and ransomware efforts. We are happy that our efforts have paid off, as we now have the DASP registration that we sought.
“It is critical for cryptocurrency to be properly regulated before it can be widely adopted,” Binance CEO and founder Changpeng Zhao (CZ) stated. In order to be regulated in France, the French DASP and AML/CFT legislation impose strict anti-money laundering and fit and suitable criteria.
We owe a debt of gratitude to the AMF and ACPR for their dedication to innovation, which allowed Binance to successfully complete the application procedure. It’s great that the crypto community may now have even more confidence in Binance France as a reputable DASP registered in France, since Binance has always placed its customers first.”
As the first major worldwide crypto exchange to be registered in France, we will be able to deliver cryptocurrency services and education to a large number of people across the country.
“The registration of Binance France as a DASP is a crucial milestone for crypto in Europe,” said David Princay, CEO of Binance France. The additional levels of AML protection, in particular, will aid in increasing the use of crypto throughout France and Europe. Users and the community will benefit from enhanced market liquidity as a result of increased adoption.
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