Crypto News

Binance receives regulatory approval in France

The crypto exchange Binance is now registered on the French stock exchange and is considered an authorized service provider for digital assets. This means that France is the first major country in Europe to not only offer Binance, but also cryptocurrency approved.

The approval goes through

French stock market watchdog group AMF listed Binance yesterday after regulators gave their approval. This allows French citizens not only Bitcoin, but also trade a plethora of other cryptocurrency tokens via Binance and the French Stock Exchange. You can also use crypto storage services on the same exchange platform.

It’s a move described as “very progressive” by financial industry founder and CEO Changpeng Zhao. Zhao appeared as a keynote speaker for a crypto event in Paris in April. He presented a new Web3 Accelerator program specially designed for web startups and took the opportunity to give his company a good show in France.

Binance is by far the largest cryptocurrency exchange platform, transacting more than $14 billion in a day, with nearly $50 billion in derivatives. The company has fought a battle with regulators across Europe as well as in Singapore over its trading options. Now that the company has been approved by France, they want to set up a headquarters in Paris. Binance currently has no headquarters, but it has also never been accepted by a major world power.

A bright future for crypto

With France becoming the first major European country to say “OK” to Binance, and with it the cryptocurrency, this paves the way for other countries to do the same. Often it only takes a domino to fall to set off the chain reaction, and we may soon see other countries across Europe and the world following suit.

Binance is trying to expand its European influence under the supervision of Lithuania and Sweden. Lithuania is currently monitoring Binance’s anti-money laundering regulations. Sweden has not granted Binance approval there, but the company is currently seeking approval from regulators. Sweden might be more sympathetic to its case now that France is now accepting Binance within its borders.

The future for cryptocurrency is looking bright right now, especially since last year hundreds of blogs took to the internet crying about possible new crypto regulations from governments around the world. It appears that some of these fears were unfounded, at least for now, and this could be the start of greater global cryptocurrency adoption.

Source: Crypto News Deutsch

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