France’s financial authority approves Binance's registration as digital asset service provider
The Autorité des Marchés Financiers (AMF), France’s authority responsible for regulating the financial market, has granted Binance’s registration to provide crypto-related services in the country.
In a Wednesday update, the AMF included Binance France SAS in its list of registered digital asset service providers in France. The registration was a step toward allowing the crypto exchange to provide crypto-related services in France including custodying assets, exchanging digital assets for other tokens or legal tender, and operating a digital asset platform.
According to the AMF, registration requires checks to ensure “good repute and competence of the managers and beneficial owners” as well as compliance with regulations on anti-money laundering and combatting the financing of terrorism. Binance said in a Wednesday blog post it would “significantly scale” its operations in France following the registration approval, and planned to expand its team “to pursue further infrastructure development.”
“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,” said Binance CEO Changpeng Zhao, or CZ.
.@Binance just got approved for the France VASP (Virtual Assets Service Provider) registration.https://t.co/DwqZrxq3bS pic.twitter.com/Eebkc7OhRV
The move into France signaled Binance’s latest expansion of its global operations, having obtained in-principle approval to operate in Abu Dhabi in April. In March, regulators in the Middle East also gave the green light for the exchange to provide services in Bahrain and Dubai. The major crypto exchange has no formal headquarters at the time of publication, but was
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