Binance France SAS Obtains Digital Asset Service Provider (DASP) Registration
Binance France SAS has acquired Digital Asset Service Provider (DASP) registration to operate in France from the Autorité des Marchés Financiers (AMF). DASP registration in the European Union highlights Binance’s vision of being a compliance-focused exchange. As part of the registration, Binance France SAS can operate as a DASP in France and provide regulatory protection to local users in accordance with French AML/CFT and customer identification requirements. Registration is effective as of May 4, 2022.
Effective regulation is necessary for the widespread adoption of cryptocurrency, said Changpeng Zhao, founder and CEO of Binance. “The French DASP and AML/CFT regulations have put in place the anti-money laundering requirements necessary to be regulated in France. The AMF and ACPR allowed Binance to navigate the entire application process. The crypto community can trust Binance France as a registered DASP in France,” he added.
For David Princay, CEO of Binance France, the registration of Binance France as a DASP is an important step for crypto in Europe. “In particular, the new levels of protection against AML will help increase the adoption of crypto in France and Europe. Increased adoption will help bring better liquidity to the market, which will be welcomed by users and the community in particular,” he said.
According to the company, following the registration, Binance aims to expand its operations in France. Additionally, it intends to recruit around 250 people focused on developing cryptocurrency and blockchain infrastructure.
Binance is a global blockchain and cryptocurrency infrastructure provider with a suite of financial products that includes the Bitcoin cryptocurrency.