Exchange Regulation | Binance Obtains Registration License from French Digital Asset Service Provider

On May 4, 2022, the leading global blockchain infrastructure provider Binance announced that Binance France SAS has obtained approval and authorization from the French Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) to operate as a licensed digital asset service provider in France.

• Approved by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) of France and registered by the Autorité des marchés financiers (AMF), Binance France SAS has been granted a Digital Asset Service Provider (DASP) registration license.
• This approval marks Binance as the first digital asset service provider to be registered in Europe, demonstrating its commitment to being a compliance-first exchange.
• Binance has become the first major cryptocurrency exchange to be registered in France.

May 4, 2022 – Binance, a global leading blockchain infrastructure provider, announced that Binance France SAS has received approval and consent from the French financial authorities, AMF and ACPR, to operate as a licensed digital asset service provider in France.

The AMF is responsible for supervising the French financial markets, while the ACPR oversees French banks and insurance companies, especially in terms of anti-money laundering regulations.

This milestone event for Binance signifies the first digital asset service provider registration license obtained by Binance in the EU, showcasing its dedication to prioritizing compliance as an exchange.

This registration license allows Binance France SAS to operate as a digital asset service provider in France, providing regulatory protection for local users in compliance with French anti-money laundering, counter-terrorism financing, and customer identification requirements.

For Binance, compliance and regulation are crucial for the development and maturity of the cryptocurrency and blockchain industry.

Founder and CEO of Binance, Changpeng Zhao (CZ), stated, "Effective regulation is crucial for mainstream adoption of cryptocurrencies, and French digital asset service providers must comply with strict anti-money laundering and counter-terrorism financing regulations to meet the high standards required by French regulators."

CZ emphasized, "We are grateful to AMF and ACPR for demonstrating their commitment to innovation, allowing Binance to complete the entire application process. From day one, Binance has put users first, and now, with Binance France as a trusted, registered digital asset service provider, the crypto community can have more confidence in us."

CEO of Binance France, David Princay, said, "The registration of Binance France as a digital asset service provider is a significant milestone for the development of cryptocurrencies in Europe, especially in terms of new protections under anti-money laundering regulations, which will help drive cryptocurrency adoption in France and Europe. Higher adoption rates will bring better liquidity to the market, which will be welcomed by users and the community."

After obtaining the registration license, Binance will strengthen its operations in France and plans to recruit up to 250 employees focused on the development of cryptocurrencies and blockchain infrastructure.