The French division of the world’s largest crypto exchange Binance was registered as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF).
This is an important milestone achievement for Binance, since the company is a centralized exchange that advocates integration with the legacy financial system, compliance with all normative claims and elimination of crime and fraud from the crypto sphere. It is important that Binance has become the first DASP in Europe and can now operate in France completely legally.
AMF regulates the local financial market and protects investors’ interests. It is an independent entity that also supervises banks and insurance companies.
Binance has been trying to get legal status in different countries around the world for several years. For this purpose, the company has made many efforts, in particular, has aligned itself with the sanctions against Russia. In particular, the exchange turned off the option of replenishment of the accounts with Visa and Mastercard cards, and also set a limit of € 10,000 for Russians.
Moreover, for several years Binance has engaged a large international team that has been focused on fighting against fraud and money laundering.
In the future, the company will be able to implement innovations more actively and get much greater freedom to operate, extending the sphere of influence of crypto and spreading knowledge about digital currencies. As a result, trading will become available to every person.
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