Binance has obtained two licenses in El Salvador from the country’s central bank and the commission in charge of digital assets. The acquisition of the additional licenses brings the total number of countries acknowledging the cryptocurrency exchange to 18, Binance said in a statement today (Tuesday).

The Central Bank of El Salvador awarded Binance a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Services Provider (BSP) license, while the Salvadoran National Commission for Digital Assets issued the exchange a non-provisional Digital Services Provider (DASP) license, the company said.

Binance Expands Crypto Services

Commenting on the approval of the licences, Daniel Acosta, Binance’s General Manager for Columbia, Central America, and the Caribbean, said: "These licenses allow Binance to expand the products and services offered including options tailored to the needs of our customers in El Salvador. It is also a great opportunity to collaborate closely with governmental authorities to support the adoption of crypto assets in the country, foster financial inclusion, innovation, and ensure customer protection."

In April, El Salvador granted Bitfinex the country’s first license for digital asset services, the company announced. The license was issued to Bitfinex Securities and allowed it to offer tokenized securities in the Central American nation. During the announcement, Bitfinex said the license would enable it to raise capital through tokenized securities.

El Salvador’s Crypto Adoption

El Salvador became the first country to make Bitcoin legal tender in 2021. The digital asset was promoted by the country’s President Nayib Bukele as a solution to making banking easy for the Salvadorans. Although the step attracted criticism from the IMF because of the volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term of Bitcoin, El Salvador unveiled plans to establish laws governing the sector.

In January, Reuters reported that El Salvador had passed a bill for the regulations of the issuance of other digital currencies besides Bitcoin. Dubbed the Digital Asset Securities Law (DASL), the legislation reportedly aims to attract foreign investors and create financial opportunities in the country.

Besides that, the new law governs the issuance of Bitcoin-backed bonds, also known as 'Volcano Bonds'. The bonds were announced by the Salvadoran government in 2021 and allow for the construction of a Bitcoin city in the country.