Binance has received official approval from the French authorities to operate in the country. The cryptocurrency exchange is listed as a registered virtual asset service provider by the French stock market watchdog AMF. Binance will now be able to provide crypto trading and custody services for crypto assets such as bitcoin and ether. With this development, France has become the first European nation to hand over its official operating license to Binance.
The US-based crypto exchange aims to become a globally licensed firm operating in foreign countries.
Last month, Zhao was in Paris when he delivered a keynote speech at a crypto event. At the time, the 44-year-old crypto billionaire called France “very progressive” in terms of giving crypto adoption a chance.
Binancebinance) has also committed to invest 105 million euros (approximately Rs 800 crore) in nurturing the crypto culture of the European nation.
Meanwhile, Binance now also has operating licenses in three United Arab Emirates Region Including Bahrain, Abu Dhabi and Dubai.
In April, Binance US was officially approved to operate as a money transmitter Puerto Rico,
Zhao launched Binance US to help the thriving crypto community in the US. In recent days, Binance US has obtained operational licenses in three other US states – Wyoming, Connecticut and West Virginia.