Cryptocurrency exchange Binance has been awarded a license by the French financial markets regulator AMF to operate as a virtual asset service provider.
AMF has added Binance France SAS to a list of registered digital asset service providers in the country in a process that checks the reputation, competence, and beneficial ownership.
The announcement is reportedly a step toward enabling cryptocurrency exchanges to offer crypto-related services like custody assets and operating a digital exchange platform.
The CEO of Binance, Changpeng Zhao, welcomes the news vowing to immensely scale operations in France and expand teams and infrastructure.
Zhao lauds the French DASP and the anti-money laundering policies for maintaining high regulatory standards in the crypto sector.
Binance has maintained momentum in the global expansion having received an in-principle approval in April to operate in Abu Dhabi. The exchange has also gotten a license to offer services in Bahrain and Dubai.
Source: Twitter
.@Binance just got approved for the France 🇫🇷 VASP (Virtual Assets Service Provider) registration.https://t.co/DwqZrxq3bS pic.twitter.com/Eebkc7OhRV
— CZ 🔶 Binance (@cz_binance) May 4, 2022
