Binance obtains full license in El Salvador, becoming the first exchange with a complete license in El Salvador

Binance has obtained a Bitcoin service provider and the first non-temporary digital asset service provider license, allowing it to offer customized products and services in the country.

Binance Obtains All Relevant Licenses in El Salvador

Binance announced that the Central Reserve Bank of El Salvador (Banco Central de Reserva) has granted Binance a Bitcoin Service Provider license (BSP), and the National Digital Assets Commission (Comisión Nacional de Activos Digitales) has granted Binance the country's first non-provisional Digital Assets Service Provider license (DASP), making Binance the first fully licensed cryptocurrency exchange in El Salvador.

This marks another milestone for Binance in its ongoing efforts to obtain local licenses and approvals in key markets worldwide. With these regulatory approvals, Binance has now been approved and registered in 18 markets globally, including France, Italy, Spain, Sweden, and Dubai, more than any other cryptocurrency exchange.

Binance: Driving Cryptocurrency Adoption in El Salvador

Min Lin, Head of Binance Latin America, stated: "We are honored to be approved, and Binance will continue to collaborate with global regulatory bodies to support global standards for the cryptocurrency and blockchain industry. For months, our team has worked diligently to provide regulators with all the information they need and undergo the required due diligence, and this outcome demonstrates our commitment to the Salvadoran market and users. We express our gratitude to the Central Reserve Bank and the National Digital Assets Commission. Their adoption of blockchain technology has created the conditions for the industry to thrive in El Salvador, proving that 'security' and 'innovation' are complementary assets. El Salvador now joins the list of countries globally that have granted regulatory licenses to Binance."

Daniel Acosta, General Manager for Binance in Colombia, Central America, and the Caribbean, stated: "These licenses enable Binance to offer products and services tailored to the specific needs of users in El Salvador. This also presents an excellent opportunity to work closely with Salvadoran government agencies to support the adoption of cryptocurrency assets in the country, promote financial inclusion, innovation, and ensure consumer protection."

El Salvador became the world's first country to recognize Bitcoin as legal tender two years ago in 2021 and passed a law regulating the issuance of other digital assets by public and private entities.