France Licenses The World’s Largest Crypto Exchange
Specifically, the French financial market watchdog (AMF) has included Binance in its list of licensed digital asset service providers in the country. This is considered an important step for Binance to start crypto-related activities in France, including custody, exchange and operation of a crypto trading platform.
Binance has just been licensed by France to provide digital asset services
Accordingly, Binance is currently the world’s largest cryptocurrency exchange with a trading volume of up to 80 billion USD per day. Accordingly, every second that passes, the Binance system has to process 1.4 million transactions. Thanks to the growth of Binance, the founder of this exchange, Mr. Changpeng Zhao or CZ for short, currently owns a fortune of up to 65 billion USD, making him a billionaire. richest in the world.
Back to the main event, tAccording to AMF, Binance is a reputable digital asset exchange and has the ability to provide the best digital asset related services today. On the other hand, the exchange also has a good history of complying with anti-money laundering and anti-terrorist financing regulations. In addition, Binance also said that the exchange is ready to expand the scale of its operations after gaining approval in France to pursue further infrastructure development.
Binance CEO, Mr. Changpeng Zhao (CZ)
The move marks the next major milestone in Binance’s expansion ambitions across Europe, where Binance CEO CZ has deemed favorable conditions to be the leading region of the crypto industry in Europe. within the framework of Paris Blockchain Week 2022. In addition, CZ also revealed that Binance currently has about 50 employees working in France. In November 2021, the CEO of Binance announced the launch of a $115 million initiative called “Objective Moon” to grow the ecosystem. blockchain and cryptocurrencies in France and Europe.
Furthermore, achieving legal recognition in France heralds Binance’s latest active global expansion, following its in-principle approval to operate in Abu Dhabi in April 2022. . Previously, the regulators in the Middle East, Bahrain and Dubai, also gave the green light to this exchange.
Although up to now, Binance does not have an official headquarters, but many reports suggest that the company will establish a specific location in the near future and completely abandon the decentralized working culture. inherently to switch to the traditional model, in an effort to appease regulators and authorities in many countries around the world.
By: CNBC
Cryptocurrency, commonly known as “virtual currency”, has not been recognized by law in Vietnam. The information in the article is for reference only and has no investment recommendation value.
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