Binance finally gains approval as a digital asset services provider in France

The French stock market regulator AMF has approved Binance as a digital assets services provider in the country. This is coming after a long regulatory battle between the number one crypto exchange and the French government. 

According to the CEO of Binance in France, this is a major breakthrough for the exchange as it has sought such approval for a long time now without any success. 

“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, CEO of Binance France said. 

As no major European country has approved Binance as a registered digital asset services provider, France is the first and now the European headquarters of Binance. This is likely to strengthen the exchange’s presence in Europe and facilitate its spread to other parts of the continent.

Meanwhile, the exchange has also established a major presence in Dubai, UAE. It is even expected that the exchange’s global headquarters will be moved to the city now that the CEO Changpeng Zhao has his first home there. 

To many crypto fans, the regulatory approval in France isn’t just a victory for Binance but for the entire crypto space as such approval will go a long way towards increasing crypto adoption in the country and even beyond. 

Similar acceptance is recorded in countries as they adopt Bitcoin as legal tender and with mainstream financial institutions such as Fidelity offering employees Bitcoin options for their retirement accounts. 

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