Just-In: Binance Expands European Stronghold With New License
The world’s largest crypto exchange Binance expands its stronghold by receiving its 4th license in Europe. Binance gets its Crypto Asset Service Provider registration from Cyprus Securities and Exchange Commission (CySEC) on Thursday. Thus, it allows the crypto exchange to offer spot, custodian, staking, and card services in the country. Binance CEO “CZ” consider France as Europe’s crypto hub.
Binance Gets License in Cyprus
In an official announcement on October 20, Binance said Binance Cyprus Limited has received Class 3 registration as a Crypto Asset Services Provider (CASP) by Cyprus Securities and Exchange Commission (CySEC).
The new license allows the crypto exchange to offer services including spot trading, custodian, staking, and cards. Moreover, it is another milestone for Binance to be in compliance with the requirements of the CySEC’s anti-money laundering and counter-terrorism financing (AML/CTF) rules.
Binance CEO “CZ” believes an effective regulatory framework is necessary to protect users and promote crypto adoption.
“Binance has some of the most thorough AML and CTF compliance policies in the industry. Recognition of the efforts we have made to be on the leading edge of compliance that our registration in Cyprus represents is testament to that.”
Binance continuous expansion is a sign of commitment to the region. It includes recruitment, education, regulatory cooperation, and the development of the crypto ecosystem. In fact, it has received similar registrations in France, Italy, and Spain.
France as Europe’s Crypto Hub
Binance CEO “CZ” considers France as Europe’s crypto hub. Also, he believes France’s large talent pool with strong engineering and mathematics backgrounds and crypto-friendly government and regulators makes it a strategic hub for crypto and blockchain industry. The crypto exchange received a license to operate in France in May.
Moreover, France’s government and Binance are collaborating on the blockchain, Web3, DeFi, and metaverse developments in the country. The Markets in Crypto Assets Regulation (MiCA) law and the DLT Pilot regulation are based on works by the French government.
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
