Binance, a major cryptocurrency exchange , announced on Wednesday that Binance France had been granted a 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 regulates and protects the French financial markets and ensures investors' financial literacy. The ACPR is an independent agency that monitors banks and insurance companies in France. Under the supervision of AMF and ACPR, Binance France will be able to operate in France with the DASP registration.
“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. 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,” Changpeng Zhao ‘CZ’, the Founder and CEO of Binance, commented.
“The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market, which will be welcomed by users and the community in particular,” David Princay, the CEO of Binance France, highlighted in the announcement.
License in Thailand
Recently, Binance formed a joint venture with Gulf Energy Development (Sarath Ratanavadi) to apply for a license to operate as a digital asset exchange platform in Thailand. A high demand for cryptocurrencies in Thailand led to the partnership between Binance and Gulf Energy Development. Additionally, it has been reported that Gulf Energy will invest in BNB (Binance Coin).
